In a previous post, we considered three of seven "irrational" habits of highly rational people. Here we consider the remaining four, as well as some suggestions for distinguishing the genuinely ...

Discover the concept of homo economicus, its origins, and why it's essential in economics. Explore its rational decision-making model and its limitations today.

Be they small or big, simple or complex, we are constantly making decisions every waking hour of our lives. But are our decisions rational or irrational? Are they always made in our best interests? In ...

Bulletin of the American Academy of Arts and Sciences, Vol. 33, No. 6 (Mar., 1980), pp. 9-31 (23 pages) In September 1978, a symposium on "National Energy Issues-How Do We Decide? Plutonium as a Test ...

When making tough choices about terrorism, troop surges or crime, we usually go with our gut. The human brain is set up to simultaneously process two kinds of information: the emotional and the ...

Loïc Berger receives funding from the Agence Nationale de la Recherche (ANR) under the project INDUCED (ANR-17-CE03-0008-01). Loïc Berger is associate researcher at the European Institute on Economics ...

Scientists have found that when monkeys choose between different options, the value neurons assign to each option does not depend on the menu of choices. This phenomenon may explain a behavioral trait ...