Bonus Episode-The Psychology of Human Misjudgement-Charlie Munger
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
00:00
11 Bias From Deprival Super Reaction Syndrome
Bias from over-influenced by authority. The extreme business case here was New Coke. People are really crazy about minor decrements down. And then if you act on them, then you get into reciprocation tendency.
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