Making decisions when you can’t be sure.

August 26, 2009

In most situations, we don’t have a single obvious objective to pursue. Instead, we juggle many competing priorities in a complex environment. In real world situations, we have no idea what the best choice is.
Unfortunately, not knowing the right answer doesn’t eliminate the need to make decisions. We have to make decisions despite the fact [...]

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Off air until Wednesday August 26th

August 19, 2009

I know. I’ve only done one post. I’m going to have to postpone getting my teeth into this new blog until next week. I’m travelling for a few days. Stay tuned.

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We’re not optimizers!

August 18, 2009

The first thing I want to do in this blog is reject the economic idea of rationality. Mainstream economists assume that people are optimizers. People are supposed to know what they want and do what they can to get as much of it as possible.
Imagine your goal is to get to the top of a [...]

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