Why do we allow our judgments of one trait of a person (or product or company) to overly influence our judgments of another, unrelated trait of that same person or product or company?
Why do we weigh recent events so heavily? And how does this tendency impact important decisions, like whom to vote for or how to conduct medical procedures?
Alex Imas, professor of behavioral science and economics at Chicago Booth, visits to discuss new research into the effects of heuristic thinking on institutional investors' performance.