When survival over generations is the end game, researchers say it makes sense to undervalue long shots that could be profitable and overestimate the likelihood of rare bad outcomes. Making decisions ...

Recently, Assistant Professor Liu Zhengwen and Professor Zhang Bo of the School of Economics, together with Professor Justin Yifu Lin from the Institute of New Structural Economics and National School ...

Human behavior drives the evolution of biological organisms in ways that can profoundly adversely impact human welfare. Understanding people's incentives when they do so is essential to identify ...

Money is a powerful force in human life and affairs. Its very power gives pause to those who look to evolution for full explanations of human behavior, because money has not existed long enough to ...