2min chapter

Clearer Thinking with Spencer Greenberg cover image

Rationality and Cognitive Science (with Anna Riedl)

Clearer Thinking with Spencer Greenberg

CHAPTER

The Importance of Time in Decision Making

Even relatively straightforward seeming fallacies like the sun-cost fallacy might actually have some usefulness given that we are embedded in this very rich and very uncertain life. So having already worked for years for a project and kind of assuming it might not go well in the future, but also not knowing, might still mean that it is more useful to work on it. Maybe we often just really don't know and given that life radically depends on what you've done before, it might be useful. I'm not saying I think it's never a fallacy, but many of those very obvious biases no longer seem really obvious to me.

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