Long reads on how we actually think, decide and live.
Essays, data and ideas on economics, rationality and why we do what we do.
No spam. Just thoughtful ideas.
Generosity looks irrational on a spreadsheet. Over a lifetime it is the best trade most of us ever make.
Expected utility is a fine tool. It was never a description of anyone.
Automatic enrolment is the revolution's great success. It is also its only one.
We are far better at explaining our choices than at making them.
The evidence is clear, the incentives are not, and the incentives usually win.
The cost is obvious, the benefit is diffuse, and so the benefit loses.
What feels like a preference is often just a default nobody questioned.
Before we try to fix people, it is worth understanding what they are for.
It looks like a flaw in the person. Mostly it is a feature of the situation.