Behavioral Economics Archives

End of history illusion

History is that certainty produced at the point where the imperfections of memory meet the inadequacies of documentation. Julian Barnes, The Sense of an...

Behavioral Economics

The Law of small numbers

Amos and I called our first joint article “Belief in the Law of Small Numbers.” We explained, tongue-in-cheek, that “intuitions about random sampling appear...

Behavioral Economics

The Gambler’s Fallacy: odds are not in your favor

Play interests me very much,” said Hermann: “but I am not in the position to sacrifice the necessary in the hope of winning the...

Behavioral Economics

Compassion fade

Compassion fade is a cognitive bias, which refers to the decrease in the compassion one shows for the people in trouble as the number of the victims increase.

Category: Behavioral Economics

End of history illusion

The Law of small numbers

The Gambler’s Fallacy: odds are not in your favor

Compassion fade