We often think we’re being rational, but our brains love shortcuts. The availability heuristic is one of them, our tendency to judge something as more likely just because we remember it easily. A news report on a robbery can make us feel unsafe for weeks. A recent stock surge can tempt us to invest. But easy-to-recall doesn’t mean true or likely. Our minds favour what’s recent, not what’s accurate

What is Bounded Rationality? Bounded rationality explains why humans often make decisions that are “good enough” rather than optimal. We...

Benjamin Franklin has more to his name than just the 100-dollar bill and the Declaration of Independence. His autobiography contains one...