Jan 4 2010 Behavioral Economics Predictably Irrational or Predictably Rational? David Henderson This is not to say that people are "perfectly rational." "Perfect rationality" as a statement of human nature, as distinguished from a theoretical device, makes for evolutionary nonsense. Had hominids sought to achieve perfect rationality in their decisions, they would have died out as they spent all of their time refi... 7 Read More
Jan 4 2010 Books: Reviews and Suggested Readings My Sowell-mate on the Knowledge-Power Discrepancy Arnold Kling Unchecked and Unbalanced is about the discrepancy between knowledge and power. Thomas Sowell's latest book, Intellectuals and Society, is about the same phenomenon. (Guess which one is selling better on Amazon.) If my many blog posts on the problem of trusting experts have not tired you of the subject, then watch So... 13 Read More
Jan 4 2010 Books: Reviews and Suggested Readings FP2P Watch Arnold Kling We get a nice review. 0 Read More