Why We’re So Bad at Making Choices for Others
The answer affects financial planners, caregivers, and many other surrogate decision makers.
Why We’re So Bad at Making Choices for OthersHow a widespread fallacy causes bad decisions
People’s tendency to expect the opposite of what just happened could lead to costly mistakes.
The likelihood of granting asylum fell even more after the granting of two previous requests in a row.
Daniel Chen, Tobias J. Moskowitz, and Kelly Shue, “Decision-Making under the Gambler’s Fallacy: Evidence from Asylum Judges, Loan Officers, and Baseball Umpires,” Fama-Miller working paper, March 2015.
The answer affects financial planners, caregivers, and many other surrogate decision makers.
Why We’re So Bad at Making Choices for OthersThe expectation of symmetry in social relationships can influence behavior and even deter crime.
Line of Inquiry: Anuj K. Shah on Why Learning about Others Makes Us Feel Less AnonymousAcquiring even mundane details about a stranger can shake our sense of anonymity.
The More We Know about Others, the More We Think They Know about UsYour Privacy
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