Tag Archive
(More Than) A Penny Saved is a Penny Wasted, In Which I Trivialize the Entire Industry of Financial Planning
Prescript: This article is by popular demand, having won our meta poll at the beginning of the year. I predict three categories of reactions to it: (1) This is obvious. (2) This is obviously wrong. (3) This is just the rationalization I needed to keep doing what I’m doing! If there’s a fourth category... »
Car Insurance and an Ear Full of Cider
Yesterday Decision Science News asked “Should you buy car insurance?” By which they mean collision insurance, liability insurance being required by law in these parts. I’m shocked and appalled that decision scientists could even ask such a thing. Actually, it’s a good question with some legitimate subtleties. I just happen to have an unreasonably strong opinion about... »
How To Do What You Want: Akrasia and Self-Binding
UPDATE: A revised version of this article now appears at blog.beeminder.com/akrasia. Preface: I love dog food, metaphorically speaking, of course. This article is about forcing oneself to do what one wants to do and I, among other things, want a new Messy Matters article to go out no less often than the... »
Prediction Without Markets
In the 2008 Summer Olympics Usain Bolt ran 100 meters in 9.69 seconds, earning the gold medal and garnering the international attention that comes with being the "fastest man in the world." While Bolt became a household name, his competitors didn't fare nearly as well: far fewer people... »
Scroogenomics vs Ulterior Motives (and Other Justifications for Gift Giving)
As a poser economist (as Jeff Ely calls me), I love to complain about the social inefficiency of gift giving. It's a terrible idea, guys! We waste 13 billion dollars a year on it! But I do appreciate that I have a tendency to pooh-pooh social conventions far too... »
