Introduction

Jed Wohlpaw: Mike Hoffkamp and I are back with a new book. The Undoing Project by Michael Lewis is about the friendship of Amos Tversky and Daniel Kahneman. They did foundational work on heuristics and the way that the human mind makes mistakes, Jed says. We tend to estimate things incorrectly because we're anchored at an initial level in our thinking so even if you say it has a 90% chance of survival people will be less likely to do it than if they were told it had a 10%.