When we try to predict how long a task will take, we are in danger of falling prey to the planning fallacy. This is the natural human tendency to underestimate how long your own projects will take and the costs involved.
To give one of many possible examples, when a group of students were asked to estimate how long their senior theses would take if everything went as poorly as it possibly could, the average estimate was about 49 days. In fact, the average time it took the students to complete t...
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cognitive bias
Viewing Your Time As Money
Should I wait in line to get this free mug? Should I walk to dinner rather than taking a taxi? Should I drive an extra fifteen minutes to go to the cheaper grocery store? Should I keep reading reviews for another twenty minutes to make sure I've really found the best hot water bottle that $10 can buy? These questions can be quite difficult to answer without a framework for valuing our time, especially since considerations of this sort tend to trigger cognitive biases.
To figure out how much w...
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Truth Discernment Can be a Super Power
When we think of super powers, we usually consider things like invisibility, super strength and the ability to fly. Technology is bringing us closer to the realization of these dreams (for examples see invisibility, strength, flying). But there is a super power that has existed for much longer, which we might call "truth discernment". This is the ability to figure out what is likely to be true in hard, important, real world problems.
There are difficult questions like the blue eyes logic puzz...
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