know thyself

money magazine has five cool tips on how to control for common errors in investing using lessons from neuroeconomics. a few are common sense and have little to do with neuroecon, but the best piece of advice is probably:

"It's important to realize," says Stanford University neuroeconomist Brian Knutson, "that the magnitude of a long-shot reward is going to drive your behavior far more than the probabilities, which are minuscule."