A couple of years ago I read Gerd Gigerenzer’s book, Calculated Risks: How to Know When Numbers Deceive You. I thought it was great, and am surprised it isn’t discussed more widely. Last night I started another of his books, Gut Feelings: The Intelligence of the Unconscious.
From the first page:
“A Columbia University was struggling over whether to accept an offer from a rival university or to stay. His colleague took him aside and said, “Just maximize your expected utility-you always write about doing this.” Exasperated, the professor responded, “Come on, this is serious.””
Nice little dig at classical economics Wish I had a nice segue into something about buildings here, but I don’t. You should still hire us.