Search

Framing decisions – The daily blog of behavioral and cognitive economics

  • Share this:
Framing decisions – The daily blog of behavioral and cognitive economics

What It Takes to Make Good Decisions: Judgment, Not Calculation

Consider the following. A young child, having received a playhouse as a gift and finding its interior too dark, asks her mother how she makes their house so light. “By flipping a switch,” says the mother. The child finds a spare switch in the basement, hangs it on the playhouse wall, and flips it, but gets no light. How charming is the innocence of young children. And how oblivious adults can be to the background conditions that are necessary to make “flipping the light switch” give us light. ….[READ]

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by budgetbuddy.
Publisher: Source link