Managers tend to pick a strategy that is the least likely to fail, rather then to pick a strategy that is most efficient," Said Palmer. " The pain of looking bad is worse than the gain of making the best move.

We have the Google family calendar. Before a week starts, my wife and I sit down to decide who's driving who to school or when can we go out on a date.

People in both fields operate with beliefs and biases. To the extent you can eliminate both and replace them with data, you gain a clear advantage.

The inability to envision a certain kind of person doing a certain kind of thing because you've never seen someone who looks like him do it before is not just a vice. It's a luxury. What begins as a failure of the imagination ends as a market inefficiency: when you rule out an entire class of people from doing a job simply by their appearance, you are less likely to find the best person for the job.

Everywhere you turn you see Americans sacrifice their long-term interests for a short-term reward.

The Red Sox are the local scapegoats. It's hard enough to play baseball without being the local scapegoat too.

There's something bad in everything good and something good in everything bad.