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The Price of Fish: A New Approach to Wicked Economics and Better Decisions by Ian Harris, Michael Mainelli

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4 CHOOSING TO STEAL THEFAMILY SILVER

Many of the more important personal decisions we make are long term, such as pursuing more education, purchasing a home, or saving for retirement. Yet individuals, organizations, and governments alike tend to struggle to make sound, long-term choices, usually favoring and justifying short-term gains over longer-term planning. Perhaps that explains why each generation decides to steal the family silver from future generations, and why such choices can nevertheless be perceived as rational and even fair at the time they are made.

TIME TO MAKE DECISIONS ABOUT TIME

Decision making gets even more interesting once differential timing, or intertemporal choices, is part of the mix. Richard Thaler, George Loewenstein, ...

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