Tuesday, February 25, 2014

Why we make bad decisions

"It is also crucial to ask probing questions not only of the experts but of ourselves. This is because we bring into our decision-making process flaws and errors of our own. All of us show bias when it comes to what information we take in. We typically focus on anything that agrees with the outcome we want"
- from New York TimesNoreena Hertz is a professor of economics at University College London and the authorof “Eyes Wide Open: How to Make Smart Decisions in a Confusing World.”

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