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Overcoming Bias Commenter's avatar

Curtis's narration concludes with the observation that the game theory/free market model is now undergoing interrogation by economists who suspect a more irrational model of behaviour is appropriate and useful. In fact, in formal experiments the only people who behaved exactly according to the mathematical models created by game theory are economists themselves, and psychopaths.http://en.wikipedia.org/wik...

...since after all, why settle for $1 million USD when many people reach the point of being able to give away billions?

Sometimes not knowing enough is worse than knowing nothing at all.

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Overcoming Bias Commenter's avatar

The folly of prediction is the introductory topic of this month's Cato Unbound, to which Robin is scheduled to be a contributor.

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