“Wisdom” is one of those words everyone knows but nobody defines. Psychologists have struggled for decades to nail down a working definition. In the 1980s, a group of researchers at the Max Planck Institute for Human Development in Berlin sat down to hammer one out once and for all. The Berlin Wisdom Project identified five criteria that define wisdom: factual knowledge, procedural knowledge, life-span contextualism, relativism of values, and management of uncertainty.