Behavioural economics, which studies human decision-making, is desperately in need of a new model. We have too many deviations (like biases) in the standard rational-actor model, which supposes that people make decisions based on our preferences and constraints. It makes the model kind of useless; if there are too many exceptions to the rule, maybe there isn’t a rule at all. Perhaps biases should be looked at differently, not as the errors in judgement they are thought to be today. Read full article here
Technology
The First Solar-Powered Car Comes at a Hot Price
The Lightyear O is a revolutionary electric car powered by the sun. Developed by a Dutch startup, the four-door sedan has over 50 square feet of solar panels on its roof and hood, generating up to 43 miles of energy a day. With production now underway in Finland, the car does come with a hefty price tag at $262,000, but the company hopes to introduce a more affordable version, the Lightyear 2, by 2025. Read full article here
Merv
January 27, 2023
