The Irrationality of Human Decision Making
Jul 22, 2010
Decades of psychological research has shown, though, that although philosophers may be paragons of rationality -- ahem, ahen – in fact most people (and probably most philosophers too) are pretty irrational in their decision-making. People go wrong at every turn. We aren’t so good at figuring out what we want. Our preferences aren’t very stable or coherent. We’re bad at assessing risks and reward. You name it, when it comes to decision making, we’re bad at it.
Comments(1)
Eddie L
Wednesday, June 2, 2021 -- 8:46 PM
The figures are telling youThe figures are telling you it is over-priced, but everyone else is making money. So is it humble to doubt that you may be wrong, or the theories are wrong or our capability of rational thinking is acutally not yet developed to the stage that it can give answer to this sort of questions. Or should you insist that the theory is right, then every one else is wrong, i.e. arguing with facts. Or is it better to think that theories are constantly evolving, and are alwasy subject to new development, and normally used to explain things after it has happend. So what is rationality and how to make correct decsisions? it seems that you cant, as "being" correct, is like developing a theory, i.e. it cannot be said until after the fact, and in the stock market, where there is no such thing as an expiry date, you could always be wrong until you are right, or vice-versa.