In a dedicated chapter in The Sense of Style, Steven Pinker defines the ‘curse of knowledge’ as “a difficulty in imagining what it is like for someone else not to know something that you know,” and links it to information asymmetry. In fact, this kind of cognitive bias favors better-informed parties over lesser-informed parties, and yet, according to Pinker, “sellers don’t take full advantage of this private knowledge. They price their assets as if their customers knew as much about their quality as they do. The Disease of an Entire […]

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