3min chapter

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THINKING, FAST & SLOW (DANIEL KAHNEMAN) - Listening books

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CHAPTER

The Importance of Base Rate Information

One sin of representativeness is an excessive willingness to predict the occurrence of unlikely low base rate events. People without training and statistics are quite capable of using base rates in predictions under some conditions, he says. An experiment that was conducted a few years ago with Harvard undergraduates yielded a finding that surprised me.

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