added by sari and · updated 4mo ago
“The Psychology of Human Misjudgment”
- Munger cites FedEx as one of his favorite examples on the power of incentives: The heart and soul of the integrity of the system is that all the packages have to be shifted rapidly in one central location each night. And the system has no integrity if the whole shift can’t be done fast. And Federal Express had one hell of a time getting the t... See more
from Incentives: The Hidden Forces That Shape Behavior by Farnam Street
sari added
Notes on The Psychology of Human Misjudgment by Charlie Munger — Rick Lindquist
Moi Jamri added
- While a tad oversimplified, Charlie Munger’s famous one-liner is sort of like the Occam’s Razor of human behavior – especially at scale. People are generally far more driven by self-interest than by any other factor.
from Part 2: creating the new frontier – Chris Rempel's Blog by Chris Rempel
sari added