The 'Instagram Generation' now experiences the present as an anticipated memory.
We all care intensely for the narrative of our own life and very much want it to be a good story, with a decent hero.
It's a wonderful thing to be optimistic. It keeps you healthy and it keeps you resilient.
We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.
At work here is that powerful WYSIATI ("what you see is all there is") rule. You cannot help dealing with the limited information you have as if it were all there is to know. You build the best possib...
Political columnists and sports pundits are rewarded for being overconfident.
When you analyze happiness, it turns out that the way you spend your time is extremely important.
If people do not know what is going to make them better off or give them pleasure, then the idea that you can trust people to do what will give them pleasure becomes questionable.
You know, the standard state for people is 'mildly pleasant.' Negative emotions are quite rare, and extremely positive emotions are rare. But people are mildly pleased most of the time, they're mildly...
By their very nature, heuristic shortcuts will produce biases, and that is true for both humans and artificial intelligence, but the heuristics of AI are not necessarily the human ones.
It's clear that policymakers and economists are going to be interested in the measurement of well-being primarily as it correlates with health they also want to know whether researchers can validate s...
Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.
True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
You think with your body, not with your brain.
Decorrelate error! To understand how this principle works, imagine that a large number of observers are shown glass jars containing pennies and are challenged to estimate the number of pennies in each...
Happiness is determined by factors like your health, your family relationships and friendships, and above all by feeling that you are in control of how you spend your time.
I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.
Most important, of course, we all care intensely for the narrative of our own life and very much want it to be a good story, with a decent hero.
There's a lot of randomness in the decisions that people make.