Our readingWhat is a korrent?
Because of incentive-caused bias, a professional advisor’s advice deserves distrust, especially when it is especially good for the advisor
Drawn from what Charlie Munger said
What these subjects mean
mental models Thinking tools borrowed across disciplines: inversion, second-order effects, circles of competence, probabilities, incentives.
behavioural science Applying how people actually decide to policy, rather than assuming how they should.
Mental modelIncentives
On the topicWhich mental models help you think better?under our view: Incentives are stronger than anyone admits, including about yourself