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Showing posts with label unit bias. Show all posts
Showing posts with label unit bias. Show all posts

Wednesday, 20 April 2011

Unit Bias: Cooking, Dieting and Investing

Feast and Famine

Cooking is, of all the inventions that have propelled mankind to the top of the food chain, probably the most important. Our dubious ascent to mastery of all we survey, other than investment bankers’ bonuses, is founded not on the skills of the scientist or the warrior but those of the humble cook.

From this it follows that, if cookery is the bedrock of our civilisation, and civilisation is the trigger for the development of the invention of money, then we ought to look for parallels between food related biases and investment biases. Indeed, it rather looks like the latter may be at least partially founded in the former.