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Humans Prefer Cockiness to Expertise

It turns out that presentation does matter when it comes to getting advice. According to a study by Don Moore of Carnegie Mellon University, people will pick the advice of a confident person even if it’s less accurate. (Psychology Today)

Prof. Gregory Berns of Emory University may have the reason why this happens in financial decision-making. His study finds that parts of the brain that correlate with valuation and probability weighting dim when presented with expert advice that was worse than what the subjects could have decided for themselves. (Psychology Today)