Research in cognitive psychology and the new neuroeconomics has consistently demonstrated that people violate the strictures of rationality on a regular basis. This literature has generated a long list of irrational behavior that many of us, any day, whether we like to admit it or not. These well-documented violations of rationality, in turn, has created a list of errors that can be used to define rationality. That is, we can estimate the degree of rationality in terms of the number and severity of cognitive biases that separate displays. The authors describe some of the most common prejudices that defy rational thought, in the hope that a better understanding of them will contribute to tilt without making decisions. Topics covered include serial associative cognition, my treatment on the side "and Mindware spaces." "Hide
by Keith Stanovich, Maggie Toplak, Richard West Source: Rotman School of Management, 5 pages. Publication Date: January 1, 2010. Prod. #: ROT098-PDF-ENG
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