309 - They Thought We Were Ridiculous - Andy Luttrell (rebroadcast)
You Are Not So Smart
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Cognitive Biases and Heuristics
This chapter explores key cognitive biases including availability, anchoring, and representativeness, illustrating how these heuristics shape human judgment and decision-making. It highlights the impactful work of Kahneman and Tversky, emphasizing their innovative questions that reveal these biases, and the implications of misjudgments in assessing probabilities. The discussion also introduces prospect theory, demonstrating how framing effects can lead to differing choices between certain gains and risky bets.
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