120 - Charlie Munger - The Psychology of Human Misjudgement
Maven Money Personal Finance Podcast
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The Open Outcry Auction Turns the Brain Into Mush
Incentive caused bias. Reciprocation tendency. The open outcry auction is just made to turn the brain into mush. These rules of thumb te work pretty well for men given his limited mental capacity, and that's why they were programmed in by my broad evolution. None the less, the psyco logical thoght system described is very useful in spreading wisdom and good conduct,. when one understands it and uses it constructively.
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