“In practice, a good deal of the outcomes produced by the market reflect nothing more than luck - good or bad.” DealsPracticeLuckOutcomes Book:The Economic Illusion: False Choices Between Prosperity and Social Justice Source: The Economic Illusion: False Choices Between Prosperity and Social Justice
“Decision-making is difficult because, by its nature, it involves uncertainty. If there was no uncertainty, decisions would be easy! The uncertainty exists because we don't know the future, we don't know if the decision we make will lead to the best possible outcome. Cognitive science has taught us that relying on our gut or intuition often leads to bad decisions, particularly in cases where statistical information is available. Our guts and our brains didn't evolve to deal with probabilistic thinking.” IfsThinkingKnowsWould BeEasyDifficultDecisionDealsBrainCasesInformationTaughtAvailableIntuitionEvolveUncertaintyOutcomesGutsDecision MakingCognitiveTaught UsBad DecisionCognitive ScienceDecisions We Make Author:Daniel Levitin