Explore consumer theory, its impact on spending decisions, and how it shapes GDP, corporate strategies, and economic policies ...

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 ...

There are two main approaches to decision making in business. The rational approach based on logic and analysis is favored by many business schools. In practice, most decisions are made using an ...

I was first introduced to author Morgan Housel on an episode of Shane Parrish’s The Knowledge Project podcast in 2016. Both individuals are prolific thinkers who greatly influenced my approach to life ...

For example, if for every highly negative outcome with a probability of 10 percent and which a rational decision-maker would avoid, then they will be avoiding negative outcomes that simply don’t ...