We are typically better at advising others than we are at making good decisions for ourselves. Read on to learn how this relates to Solomon's Paradox, examples, what to do about it and more.
The Hidden Cost of Doing Too Much
The Law of Diminishing Returns states that as the amount of an input increases, the marginal (additional) output eventually decreases. In other words, the more of something you have, the less each additional unit will add to your total. Read on to learn more.
What is Occam’s Razor?
Occam's Razor, also known as the principle of parsimony, is a problem-solving or decision-making tool used in various fields, including science, philosophy, and law. It suggests that, when faced with competing hypotheses or explanations, the simplest one is often the most likely or correct. Read on to learn more.
How to Improve Decisions About Health, Wealth and Happiness
"Nudge" by Richard H. Thaler is a groundbreaking book that provides a new perspective on how people make decisions. The book argues that people are often influenced by their environment and the context in which they make decisions, and that small changes in this environment can have a big impact on the choices people make. Read on to learn the key points.
Mental Models: Cognitive Biases
Cognitive biases are systematic errors in our thinking that can impair decision-making by leading to irrational judgments. By understanding these biases, we can better recognize their impact on our thought processes and avoid their negative effects.
The Creative Process of Innovators and What It Takes to Spark Creativity
Lessons from the Netflix documentary "The creative brain", in which neuroscientist David Eagleman investigates the creative process of various innovators while exploring what it takes to spark creativity