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Economics

The regret of the second helping

A small decision, repeated daily, is a life. Nobody designs it that way.

Pale pink blossom on thin branches in front of a raw concrete wall
Blossom against a concrete wall, Lisbon. Photograph: The Unreasonable Human

Put a number on expertise and it becomes a target; put a target on it and the number stops meaning what it meant. The measure that matters is not what people say about expertise but what they do when nobody is scoring. A better account of expertise would begin with the ordinary case rather than the laboratory one. Economists have spent decades modelling expertise as a quantity. It behaves more like a weather system.

Where the model breaks

Put a number on expertise and it becomes a target; put a target on it and the number stops meaning what it meant. Understanding people turns out to be a more urgent task than changing them, and a great deal harder. Ask most people why they did what they did and they will give you a reason; ask them again a week later and the reason will have quietly changed. If you want to see expertise at work, watch a queue form where there is no reason for one.

EconomicsRationalityRisk
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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