2min chapter

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Markets And The Madness Of Crowds - Robert Shiller

The Joe Walker Podcast

CHAPTER

The Available and Representative Heuristics

Bob Schiller: The availability and representative of the syruistics are two mental shortcuts which can result in biases. They were proposed by psychologist's Amos Tversky and Daniel Kahneman. For example, you're likely to overestimate the frequency of Hollywood divorces because they're more reported on than other events.

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