Risky Business with Nate Silver and Maria Konnikova The Canal, the Crash and the Ketamine - Pushkin's Reign of Error
Oct 25, 2025
In this episode, psychologist Maria Konnikova and writer Sheila Heti delve into the weight of mistakes and regrets. Maria explores how fear of regret affects decision-making in poker and life, while Sheila shares a hilarious mishap involving a lost grant and an accidental ketamine experience. They discuss the emotional aftermath of errors and how some situations leave little room for mistakes. With engaging anecdotes and thought-provoking insights, they unwrap the complexity of regret and the human experience.
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Hard-To-Move Things Can Hide Fatal Traps
- If something is extremely hard to move, leaving it alone can be wiser than forcing it.
- Tim Harford uses the Chesterfield Canal plug story to show small actions can cause big unforeseen consequences.
Focus On Process, Not Anticipated Regret
- Avoid making decisions based on anticipated regret; it commonly leads to worse choices.
- Maria Konnikova and Nate Silver recommend focusing on decision process and expected value rather than post-outcome feelings.
Endowment Effect Meets FOMO
- Endowment effect and FOMO compound to make people irrationally cling to possessions.
- Maria Konnikova explains this interplay causes people to avoid selling or switching even when rational choice favors it.
