Economic Psychology

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Economic Psychology

How and why markets aren't rational. Navigational tips for successfully charting the Bermuda Triangle of human economic behavior. ™




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Fundamental Attribution Error
 
A fine quote from Adam Gopnik's Paris to the Moon, concerning our tendency to over-attribute to individuals the primary responsibility for their, and our, economic outcomes.

We surf the waves of capitalism, from crest to trough and back again, but the funny thing is that
no matter how often we ride the wave, nobody notices that it's wet. When we are on the crest,
we believe that we have climbed a mountain through our own virtuous efforts, and when we are
in the trough, we believe we have fallen into a pit through our own vice.



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