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Ep. 295: Gerd Gigerenzer & Brian Wansink Interviews with Michael Covel on Trend Following Radio

Michael Covel's Trend Following

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Heuristics and the Economy: A Collegial Debate

Risks Avi: I know you have a good-natured debate with Daniel Kahneman on his perspective. Let's start with the commonalities. We both believe that people use heuristics to make decisions, at least in many situations. The disagreement starts because the economy and many of his followers believe that heuristics are always second best. And this is an error. In a world of uncertainty where you cannot calculate all the risks, statistics and optimization doesn't help.

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