close up of a chessboard

Risk Update: July2025 – “Preservation”

“Situations of uncertainty and intractability rule out optimization and, along with it, the usefulness of the theory of maximizing subjective expected utility.” Gerd Gigernzer, November 2024. The rationality wars: a personal reflection | Behavioural Public Policy | Cambridge Core We linked to this wonderful paper from Gerd Gigerenzer, and paid homage to it with our choice for the title, in our November 2024 Update – “Rationality Wars” Convex Strategies | Risk Update: November 2024 – “Rationality Wars”. This particular quote, however, is what we devoted the bulk of our thoughts to in our May 2025 Update – “Just Do It”…