Ten years ago, the Czech Academy of Sciences initiated a project whose principal goal was to popularize science among the general public. Besides educating high school teachers, the Open Science project was aimed at talented high school students by offering internships at selected scientific institutes of the Czech Academy of Sciences.
Jan Kmenta started and finished his life in Prague.
Still, his life was everything but provincial – shortly before his final days, in one interview he confessed: I spend one third of each year in Australia, one third in Michigan and one third in Prague. I am very lucky.
In July 2016, Jakub Steiner, CERGE-EI Associate Professor, published an article called “Perceiving Prospects Properly,” co-authored with Colin Stewart, in the American Economic Review. Subsequently, Tim Hyde wrote a short article introducing the main points of the paper, which can be enjoyed below. Continue reading Can it be rational to overweight very unlikely events?