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[youtube=http://www.youtube.com/watch?v=c-4flnuxNV4&feature=channel_page] Estrace Vaginal Cream For Sale, Some friends and I watched the above talk together by Dan Gilbert on the various ways humans made logical errors in decision making.  If you are a behavioral economist or are into psychology literature, you are probably all too familiar with the experiments on this subject, but it's worth watching anyway.

There was some criticism of the talk in that it does ignore the fact that given limited resources in making decisions, Estrace Vaginal Cream alternatives, Generic Estrace Vaginal Cream, the heuristics that we humans use (i.e. the rules of thumb, buying Estrace Vaginal Cream online over the counter, Where to buy Estrace Vaginal Cream, like price being a good indicator of quality) serve us very well most of the time.  It's only under specific circumstances that these heuristics lead to logical errors and bad decisions.  Thus, the talk left some people thinking that the point Gilbert was making is that we're all pretty bad decision makers and we should learn to transcend these error-prone heuristics.  The critics further suggested that no, Estrace Vaginal Cream description, Estrace Vaginal Cream reviews, we're not bad decision makers, we are in fact really good 95% of the time, Estrace Vaginal Cream results, Estrace Vaginal Cream wiki, and furthermore it's not really logical to waste our time trying to be better because the cost is too steep.  We'd waste every moment of our lives figuring out what a good price is for a bottle of wine.

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  • http://bizop.ca michael webster

    Probably beyond the scope of Gilbert’s talk, but the separation of probability from value doesn’t hold in a zero sum game.

    The rational expectation of the state of nature, taken as the other person’s choices, is only dependent on the payoffs.

    Much of modern finance theory appears to ignore this, which is probably more worrying than any of the examples Gilbert raised in this talk, his papers, or his last book.

  • http://rafefurst.wordpress.com/ rafefurst

    Michael, great comments. I agree wholeheartedly. Perhaps though you can elaborate on these points a little as they deserve explication. And do you know of good references or schools of thought which address these?