Sublime

future. One of the main lessons of behavioral economics is that small changes to the environment we live in matter.

general: Every time we face a situation where we know less than others and that gap can be used against us—which is the case in much of life and for people of all persuasions—we stand to gain a whole lot from studying up even a little bit.

Another study has shown that low maternal education is the single most powerful factor leading to criminality.

It turns out that a crack boss didn’t have as much control over his subordinates as he would have liked. That’s because they had different incentives.

Economics 101 teaches that trading is rational only when it makes both parties better off. A baseball team with two good shortstops but no pitching trades one of them to a team with plenty of good arms but a shortstop who’s batting .190. Or an investor who is getting ready to retire cashes out her stocks and trades them to another investor who is j

The second asks how much cash you would demand to increase the risk of dying by the same amount.

Dans le monde des homards, il existe une prime au vainqueur, exactement comme dans les sociétés humaines, où les 1 % de personnes les plus riches cumulent autant de richesses que les 50 % de plus pauvres11, et où les quatre-vingt-cinq personnes les plus aisées ont autant que les trois millions et demi d’indigents.

Because criminals respond to incentives as readily as anyone, the result was a surge in crime.

Socrates—who, like Adam Smith, argued that people are generally good even without enforcement.