I'll Give You Miss Le Rory Southerland

We have evolved in many ways, our conscious brain, not to make decisions, but to win arguments. This is a feature of our social nature as humans. In consumer behaviour, we're heavily motivated by avoidance of the risk of regret. And in an institutional setting, we're very heavily motivated byavoiding blame. We tend to assume that quality of reasoning is a proxy for quality of decision. But it's a bit more complicated than that. There's a fundamental difference in human behaviour between revealed preference and stated preference. What people say they want from something and what they instinctively want from something are very different things. People would rather make a decision than make sense, than make a good decision