Managers Think Of Themselves As Captains Of

We Don't See Very Far In The Future, We Are Very Focused On One Idea At A Time, One Problem At A Time, And All These Are Incompatible With Rationality As Economic Theory Assumes It.

Finally, The Illusions Of Validity And Skill Are Supported By A Powerful Professional Culture. We Know That People Can Maintain An Unshakeable Faith In Any Proposition, However Absurd, When They Are Sustained By A Community Of Like-minded Believers. Given The Professional Culture Of The Financial Community, It Is Not Surprising That Large Numbers Of Individuals In That World Believe Themselves To Be Among The Chosen Few Who Can Do What They Believe Others Cannot.

Experts Don't Know Exactly Where The Boundaries Of Their Expertise Are.

The Effort Invested In 'getting It Right' Should Be Commensurate With The Importance Of The Decision.

When You Look At The Books About Well-being, You See One Word - It's Happiness. People Do Not Distinguish.