It's We, the Public, Who Are "Flip Floppers"

If I told you there was a new medicine effective in treating a previously untreatable illness, you might be interested. If you have the illness, you might even read up and try to figure out whether the medicine would work for you. Ideally, you will evaluate the strength of evidence – was it a randomized…

In what academics call neoclassical economics, human beings are largely rational, self-interested decision-makers. This stereotypical human, often referred to as Homo economicus, is a creature of coldly calculated selfishness, dispassionately maximizing its best interests even if that comes at the expense of others. A study in Japan shows that Homo economicus makes up only a…