Tag Archives: making comparisons

Dan Gilbert: Why We Make Bad Decisions (Video)

From buying a burger, to eating chips, to playing the lottery — Dan Gilbert examines the decision-making process and attempts to explain why we make bad choices. He speaks about the significance of Bernoulli’s equation to everyday life and posits that humans are not very adept at calculating “expected value.” Gilbert also highlights how our decisions can change when making comparisons with the past instead of with the possible, as well as how time impacts decision-making and satisfaction.

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