It's about Time

Douglas Glen Whitman and Mario J. Rizzo have published a paper on the effects of the cognitive biases of regulators instead of merely looking at the cognitive biases of those regulated. I've been talking about that possibility for years.

The next logical step is to examine the cognitive biases of people examing cognitive biases and then the cognitive biases of people examing the cognitive biases of people examing cognitive biases and so on up the ordinals … (It's amazing how supposedly-useless mathematical concepts such as ϵ₀ turn out to be important.)