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We all use heuristics to make everyday decisions — but sometimes they blind us to the truth. So we need to do something that doesn’t come easy: accept that our ideas might be wrong. Behavioral Economics (video series): Join Prof. Antony Davies of Duquesne University and Erika Davies of George Mason University as they take …
View full lesson: http://ed.ted.com/lessons/the-psychology-behind-irrational-decisions-sara-garofalo Often people make decisions that are not “rational” from a purely economical point of view — meaning that they don’t necessarily lead to the best result. Why is that? Are we just bad at dealing with numbers and odds? Or is there a psychological mechanism behind it? Sara Garofalo explains heuristics, …