I get paid to make important decisions, often impacting many people or involving large sums of money, and I like to think I’m fairly good at it. The basis of economic theory is that people operate in a rational and logical manner to maximise their potential outcome. Indeed, I think most people like me would say they largely behave rationally and make good decisions. Well here’s a newsflash to us all, people are terrible decision makers and have poor intuitive judgement.
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