There is clearly no need for formal instruction in "how to play," in "getting along with the group," in "selecting a dentist, ...

(MoneyWatch) Have you heard the parable of the broken window? It's a wonderful example of unintended consequences that applies not only to businesses activity and government regulations, but to ...

Discover the base rate fallacy's impact on investing decisions. Learn how overlooking this cognitive bias can lead to financial misjudgments and market misconceptions.

With the constant stream of data about COVID-19, it can be hard to make sense of all the numbers. We look at the base rate fallacy, and how some people are making this mistake when assessing risk.

Learn about the Broken Window Fallacy in economics and discover how destruction impacts economic growth by diverting resources from productive use.

The fallacy is that we are surprised when things that are supposed to vary a lot, come down one way a number of times. We feel the next case must break the pattern. In reality, there is no pattern.

One of the pillars of American mythology is the “bootstrap” theory of self-improvement and personal progress. In this thinking, the individuals pull themselves up to a better station in life by their ...

In 1956, the Supersonic Transport Aircraft Committee met in England to discuss building a supersonic airliner by British aircraft and engine manufacturers and the government. The project – named ...

In addition to being a publisher, poet, planter of trees and polyamorist, Felix Dennis, founder of Maxim and The Week magazines, is simply one of the most entertaining people you could hope to ...

The sunk cost fallacy is a theory that posits that we keep going down a path that may not be ideal because of the amount of ...