The Rational View podcast with Dr. Al Scott cover image

Rationality requires managing your cognitive biases

The Rational View podcast with Dr. Al Scott

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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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