Re: [Pen-l] Bubble Psychology [was: thinking the unthinkable

[Doug Henwood <dhenwood@xxxxxxxxx>]

On Oct 23, 2008, at 2:28 PM, Max Sawicky wrote:

> I happen to be noodling now with that issue in re:  cost-benefit  
> analysis.  My intuition is that over-confidence is ubiquitous in  
> both the public and private sectors because it is a rational sort of  
> 'irrationality.'

If it weren't for "over"-confidence, we might never do anything. See,  
for example, the evidence that depressed people have a more rational  
evaluation of their prospects than the un-depressed, which is one  
reason they have a hard time getting out of bed.

Doug
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