3min chapter

The Rational View podcast with Dr. Al Scott cover image

Rationality requires managing your cognitive biases

The Rational View podcast with Dr. Al Scott

CHAPTER

The Gamblers Fallacy

There's a big difference between white male acceptance of nuclear power and just about everybody else. People in powerful positions in a hierarchy or with lots of money are less loss of verse because they're in a better position to absorb the consequences. The gamblers fallacy basically is the idea that luck runs in streaks. Over the long term, the relative proportion of heads to tails on a random coin flip tends to 5050.

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