A global study led by a researcher at Columbia University Mailman School of Public Health and published in the journal Scientific Reports finds that economic inequality on a social level cannot be explained by bad choices among the poor nor by good decisions among the rich. Poor decisions were the same across all income groups, including for people who have overcome poverty.
It directly addresses what you said. The study investigates cognitive biases, and the title talks about “poor decisions”. The two are completely different things, as I explained in depth.
I’m wondering if there is any research which directly addresses the correlation level between cognitive biases and poor decisionmaking.
It feels like commonsense that there should be a causal relationship in there, logically speaking, but “common sense” isn’t science.