The psychologist Daniel Kahneman — a Nobel laureate and the author of “Thinking, Fast and Slow” — recently died at age 90. Along with his collaborator Amos Tversky, he changed how we all think about decision-making. The journalist Michael Lewis told the Kahneman-Tversky story in a 2016 book...

People who are good at their jobs routinely get promoted into bigger jobs they’re bad at. We explain why firms keep producing incompetent managers — and why that’s unlikely to change.