Alex Edmonds

and then you give them something that contradicts that statement, and you see what happens to their brain by hooking them up to an MRI scanner.

If you give a non-political statement, like Thomas Edison invented the light bulb, you give them contradictory evidence, nothing really happens.

But if it is a political statement, like immigration is good for society,

you give them some contradictory evidence, then the part of the brain that lights up is the amygdala.

That is the same part of the brain that lights up when the tiger attacks you.

You go on the defensive.

You respond to something that you don't like, like a tiger attack.

So this is why it is difficult to overcome biases.

And therefore, those who are able to do this, be this in investment decisions as a shareholder, be this in company decisions as an executive, you are the people who are able to get out of subprime loans before the crisis, make different decisions and get ahead.