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5min chapter
Eric Johnson on The Elements of Choice
The One You Feed
The Recency Bias
If i give a menu with ten things on it, and it's written, you'll probably show a primacy byis you'll stop too soon. You'll actually order one of the things that's first on the list. But let's take that same menu, give it to eric, the waiter, who's going to read it to you. Now, just like we talked about it earlier, i'm going to forget the first five things on that list, and something toward the end will be remembered. That's when you get a recency bias. So this means our preferences are not always stable and fixed, but rather improvised, constructed haphazardly from a large set
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