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S E48: Behavioral Economics - We're only human!

Think Like An Economist

CHAPTER

The Types of Mistakes That Thinking Fast Might Lead You to Make

We tend to make mistakes when we are over confident, says Dr Richard Branson. That's why it's so important to learn about the types of mistakes that thinking fast might lead you to make. What over confidence means in our everyday life is that entrpeners tend to be over confident in assessing their company's chances for success. And people picking stocks tend to being over confident that they're picking winners.

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