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.
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.
When what you did clashes with what you think, one has to give. The action already happened and the belief is private — so people end up sincerely believing whatever justifies what they did.