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Economics

A short history of the rounding error

The story we tell afterwards is tidier than the choice we made at the time.

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Growth, measured and unmeasured. Photograph: The Unreasonable Human

Every one of us runs the same shortcut, and every one of us believes we are the exception. The lesson is modest. Build for the person who exists, not the one in the model. In the studies we have, the effect is modest, reliable and almost entirely ignored by the people it describes. Understanding people turns out to be a more urgent task than changing them, and a great deal harder.

Three kinds of mistake

The strange thing about the school run is not that it exists but that it works, most of the time, for most people. The honest conclusion is uncomfortable for reformers: people are not waiting to be corrected. The measure that matters is not what people say about loyalty but what they do when nobody is scoring. A pattern this consistent is not a character flaw. It is a design feature, and design features can be worked with.

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Alina Petrova
Alina Petrova — Editor-in-chief

Alina Petrova is a Year 12 student preparing to apply to university, and the founder and editor of The Unreasonable Human. She reads across psychology, economics, behavioural science and neuroscience, and writes about the gap between how people are supposed to decide and how they actually do.

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