Anybody who has seen a convertible caught in a rainstorm understands the importance of weather forecasts. And the expectation that the forecast is in fact accurate and reliable. Economies, like weather systems, are complex. But instead of having a foundation based on predictable laws of physics, they are built on human behaviour. Some would argue predictable human behaviour. With all the information available to Homo Economicus, one naturally wonders how he (according to this Latin name, he is male) makes choices. Being completely rational and unbiased, which is the entity most likely to guide his decisions? He is ... (full story)