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20min chapter
#050 - Fooled by Randomness: Nassim Taleb (Incerto Series)
rational vc
Signal, Noise, and Heuristics
In this chapter, the concept of signal and noise is explored in the context of information overload. The discussion focuses on the significance, causality, and confidence level in statistical conclusions, and gives examples of how correlation and causality can be confused in media. Additionally, the chapter examines the five heuristics: anchoring, availability, representativeness, simulation, and effect, with a specific emphasis on anchoring bias and the availability heuristic.
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