Introduction In the realm of decision-making, it is crucial to consider the limitations of our models and assumptions. The Lucas Critique, named after economist Robert E. Lucas Jr., emphasizes the need to account for how individuals and organizations respond to changes in policy or external factors. This mental model challenges the effectiveness of static models […]
Introduction In the realm of decision-making, the Evolutionary Stable Strategy (ESS) stands as a powerful mental model that explores how individuals and groups make choices to maximize their long-term success. Rooted in evolutionary biology, the ESS concept has found relevance in various aspects of human psychology and is prevalent in our day-to-day lives. By understanding […]