Most of us like to think of ourselves as capable of logical thinking and making sensible choices, that is, of being rational.

But that’s not the way we are. As decision makers, we simplify, misunderstand, lack ability, miscalculate, forget, and make evaluations of alternatives that depend on seemingly irrelevant details about how a problem is framed. Rational? Yes, but only within certain limits; muddling through with a bag of tricks that don't serve us too badly...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.