The law of small numbers

probably we desire the impossible

In my previous post I shared a few thoughts on probabilities and statistics.  I wrote about disregarding probabilities in decision making, ignoring small probabilities and not over-weighting small probabilities. A tough act to follow.  I am totally guilty of failing…

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Recency Bias

We tend to associate more importance to recent events than we do to less recent ones. The more vivid our memory of something which occurred in the past is, the more “available” that event will be in our mind and the more…

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