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Sixth, Base Rate Fallacy
The false positive paradox is an example of the base rate fallacy. Individuating information is specific to a certain person or event. Base rate information is objective and statistical information. People who are guided by system one are more susceptible to the availability bias than others.
Show notes | PDF & Infographic | Free audiobook | Thinking, Fast and Slow provides an outline of the two most common approaches our brains utilize.
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Daniel Kahneman is Professor of Psychology and Public Affairs Emeritus at the Princeton School of Public and International Affairs, the Eugene Higgins Professor of Psychology Emeritus at Princeton University, and a fellow of the Center for Rationality at the Hebrew University in Jerusalem. Dr. Kahneman is a member of the National Academy of Science, the Philosophical Society, and the American Academy of Arts and Sciences. He is also a fellow of the American Psychological Association, the American Psychological Society, the Society of Experimental Psychologists, and the Econometric Society. In 2015, The Economist listed him as the seventh most influential economist in the world. In 2002, Kahneman was also awarded a Nobel Prize in Economic Sciences.
Thinking, Fast and Slow provides an outline of the two most common approaches our brains utilize. Like a computer, our brain is built of systems. System 1 is fast, intuitive, and emotional. Daniel Kahneman encourages us to move away from our reliance on this system. System 1 is the most common source of mistakes and stagnation. In comparison, system 2 is a slower, more deliberate, and logical thought process. Kahneman recommends tapping into this system more frequently. As well as this advice, Kahneman provides guidance on how and why we make our decisions.
There are two thought processes: System 1, which includes innate abilities and learned skills, and System 2, which is effortful and deliberate. System 1 is the oldest and unconscious, used for intuitive decisions and filtering experiences. Attention is associated with both systems, working in tandem. System 1 influences many choices and judgments, even if it feels insignificant.
First published on 1/5/2021.
Disclaimer: This is an unofficial summary and analysis.
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