Thursday, February 20, 2014

Irrelevant information is not well maintained

Peter Gordon: Head scratchers
We suspect that many people are not well informed. Why should they not believe that wages can be set by edict and that there are no consequences? Why not believe in free lunches? This study suggests that widespread ignorance is even worse than we suspect.

Accuracy is a limited quantity. We use it only for transactions that count. Ask me something I am not really concerned about, I will make stuff up just to keep you happy.

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