Michael Woodford, 01 March 2019

Michael Woodford of Columbia University discusses how limitations to the accuracy of memory are likely to be a very significant source of bias which affects the way people's beliefs and behaviour respond to changes in their cirumstances.

Nicola Lacetera, Devin Pope, Justin Sydnor, 20 May 2011

People like to take shortcuts and this affects how we make decisions. Looking at auctions of more than 22 million used cars in the US, this column finds that buyers will often only pay attention to the first few digits of mileage. So if you have driven your car 30,000 miles, you might have to sell it for $200 less than if you had driven in 29,999 miles.

CEPR Policy Research