Utility of the Devil


I very much enjoyed reading Richard Thaler’s book Misbehaving, on behavioural economics and his own role in its development. It occurred to me that the basic lessons of that soi disante science may be summarised by a variant on a famous Rolling Stones song:

You can’t always know what you want…

But if you don’t try, most of the time

You just might find you want what you know.

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