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The Undoing Project: A Friendship That Changed the World

Listen to Michael Lewis discuss his latest book on Freakonomics Radio: “The Men Who Started a Thinking Revolution” (skip to 1:50) and on Charlie Rose (much better than the former discussion); plus some print reviews in the New York Times, The New Yorker, the FT and The Economist. Below is a draft encyclopedia entry on Daniel Kahneman (and Amos…

Luck and Learning to Make the Most of It

Here is Vernon Smith on Fortuna. Vernon very kindly wrote the preface to Propriety and Prosperity: New Studies on the Philosophy of Adam Smith. Some call it luck, others call it Providence, and that points to the mystery of the forces that shape us and that we shape—forces well beyond our comprehension.   Adam SmithBehavioral economicsEconomicsfortunaLuckProvidencesituated cognitionTheory…

Evolving Norms: Cognitive Perspectives in Economics

This book presents institutional evolution and individual choice as codependent results of behavioral patterns. Drawing on F.A. Hayek’s concepts of cognition and cultural evolution, Teraji demonstrates how the relationship between the sensory and social orders can allow economists to track social norms and their effects on the global economy. He redirects attention from the conventional…

Commemorating the Centennial of Herbert Simon’s birth

As many Simon aficionado’s will know, this year sees several conferences and publications marking the centenary of his birth. So on this note, yet another plug for Minds, Models and Milieux Commemorating the Centennial of the Birth of Herbert Simon but also to mention some upcoming Herbert Simon Society events (it’s somewhat reassuring given the disrepair of the delusional EU…