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Economics

The choice of the round number

Economists have a model. The rest of us have a Tuesday.

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A stairwell, lit from above. Photograph: The Unreasonable Human

The evidence here is thinner than the confident commentary suggests, and the honest position is a shrug with a direction of travel. The measure that matters is not what people say about kindness but what they do when nobody is scoring. The mind that evolved for small groups and immediate dangers is now asked to manage a pension. It does its best. We describe the departure from the model as an error. We might equally describe the model as a hopeful guess about us.

Where the model breaks

What looks like kindness from the outside is usually something simpler from the inside: tiredness, a deadline, a wish not to look foolish. Put a number on kindness and it becomes a target; put a target on it and the number stops meaning what it meant. In the studies we have, the effect is modest, reliable and almost entirely ignored by the people it describes. Consider a good excuse. It is a small thing, and small things are where habits live.

EconomicsRiskRationality
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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