Hennessy's View

How We Fool Ourselves With Numbers

Often, the best outcome seems less satisfying than alternatives. Daniel Kahneman is a psychologist who won a Nobel in economics for Prospect Theory, more commonly called Behavioral Economics. In his book, Thinking, Fast and Slow, Kahneman describes a cognitive bias that leads people to make the wrong choice on automobiles. But the bias might actually keep gasoline consumption high by fooling people with number. Say you’re concerned with the amount of gasoline you use. Read more →