Human Stupidity
The Planning Fallacy: Why Everything Takes Longer Than You Think
The Sydney Opera House was supposed to take six years to build and cost seven million dollars. It took fourteen years and cost 102 million dollars. The Sco…
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Human Stupidity
Human Stupidity
The Availability Heuristic: Why Rare Events Feel Common
After a plane crash receives weeks of saturation news coverage, airline ticket sales drop significantly. After a shark attack makes the front page, beach a…
Human Psychology
The Anchoring Effect: How the First Number You Hear Controls Your Thinking
Before you answer the next question, spin an imaginary wheel of fortune. It stops on 65. Now: what percentage of African countries are members of the Unite…
Human Stupidity
Why Humans Are Terrible at Understanding Risk
People are more afraid of flying than driving, even though driving is dramatically more dangerous per mile traveled. People buy lottery tickets — a tax o…
Human Stupidity
Sunk Cost Fallacy: Why We Throw Good Money After Bad
You have been watching a film for forty-five minutes and you are not enjoying it. You paid for the ticket. Do you leave, or do you sit through the remainin…