Welcome, friend and future deep-dweller!
In this episode of Deeponomics, we explore what makes a decision good — and why the answer has less to do with outcomes than you might think.
From a snowstorm at Narva in 1700 to Darwin’s pro-and-con list on marriage, we reflect on how decision-making is shaped not only by reason but by bias, framing, inertia, and emotion. Along the way, we question what it means to decide well — in finance, in economics, in life.
We also meet some of the usual suspects: confirmation bias, the sunk cost fallacy, anchoring, overconfidence, and more. But rather than stopping at diagnosis, we examine tools and “cognitive repairs” that might help us decide better under uncertainty.
This one is about process. About being less wrong. And about learning to live with the fact that even a good decision can lead to a bad result — and vice versa.
References:
Kahneman, D. (2011). Thinking, Fast and Slow.
Montier, J. (2006). Behaving Badly.
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