The Decision Education Podcast Episode 001: Base Rates and Bees with Michael Mauboussin
30 snips
Jan 27, 2021 AI Snips
Chapters
Transcript
Episode notes
Consider Alternatives
- A common decision-making mistake is failing to consider alternatives.
- People tend to narrow in on one answer too quickly.
Honeybee Decision Making
- Honeybees effectively find new homes by exploring all options.
- They use waggle dances and quorum sensing to communicate and decide.
Base Rates
- Base rates involve comparing your situation to similar past situations.
- Consider the distribution of past experiences given similar circumstances.