Even the most analytical thinkers are predictably irrational; the really smart ones acknowledge and address their irrationalities.

Disasters are usually a good time to re-examine what we've done so far, what mistakes we've made, and what improvements should come next.

But suppose we are nothing more than the sum of our first, naive, random behaviors. What then?

That’s a lesson we can all learn: the more we have, the more we want. And the only cure is to break the cycle of relativity.

In terms of the actual curriculum for management education, my own view is very simple-minded: The world is incredibly complex, it changes all the time, and we should not even hope that we could create a general model that accurately describes the world in all its possible states.

To summarize, using money to motivate people can be a double-edged sword. For tasks that require cognitive ability, low to moderate performance-based incentives can help. But when the incentive level is very high, it can command too much attention and thereby distract the person’s mind with thoughts about the reward. This can create stress and ultimately reduce the level of performance.

Once you break the social norm and create a new social norm, all of a sudden it can stay with us for a long time.