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The Value Perspective

CHAPTER

How to Get a Probabilistic Thinking

Andrew C.A. Elliot: We often hear people push back against adopting probabilistic thinking to events in life that won't repeat themselves. He says the best application of probability theory is to position yourself in such a way that you will do reasonably well regardless of whether you get a zero or a one. The odds are very different in the two cases, he adds.

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