Business & Economics

Behavioral Economics: The Errors Point the Same Way

If people departed randomly from rational choice, the departures would cancel out. They lean consistently in the same directions — which is what makes them worth studying, and worth worrying about.

Supply Chain and Logistics: The Ocean Is Cheap, the Doorstep Is Not

Crossing an ocean can cost less per item than the final eight kilometres. Once you see logistics as handling events rather than distance covered, most of the field makes sense.

Markets: A Price Is a Bet, Not a Measurement

A company posts record profits and the share price falls. That stops looking irrational once you see that a price already contains what everyone expected — and moves only on the difference.