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.
It looks like a flaw in the person. Mostly it is a feature of the situation.
The cost is obvious, the benefit is diffuse, and so the benefit loses.
People will pay to punish unfairness. Markets have never quite accepted this.
Before we try to fix people, it is worth understanding what they are for.
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.