We Don’t Have a Hundred Biases, We Have the Wrong Model

Share This Post

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

More To Explore


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


Magneto Protein Could Help Magnets Control Brain Circuitry

This groundbreaking research by scientists at the University of Virginia has demonstrated a novel way to control the nervous systems of zebrafish and mice using magnets. This method, called magnetogenetics, involves inserting genetic constructs into neurons to make them sensitive to magnetic fields, providing a more precise and non-invasive way to control and manipulate neural circuits than traditional methods. This could one day revolutionize the treatment of brain disorders in humans. Read full article here

Do You want to embrace intellectual freedom and join our premium users?


The occasional email full of conversation-worthy content