Cognitive Biases: Flaw or Feature?

Cognitive biases, prejudices and short-cuts, are bad, right? Anything that gets in the way of making rational decisions necessarily reduces our welfare. Our natural inclination towards the current moment, aversion to loss, inattention and procrastination leads many of us to under-save for retirement, with potentially disastrous consequences for ourselves and society. Do these self-sabotaging biases … Continue reading Cognitive Biases: Flaw or Feature?