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49. How Does Facing Death Change Your Life?

No Stupid Questions

Balancing benefits and probabilities in decision making

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In decision-making, individuals often focus on the benefits and costs of a choice while neglecting the probabilities involved. This tendency leads to distortions in subjective probabilities as people vividly imagine specific scenarios and ignore other possibilities. It is essential to consider both the value and the probability of outcomes when making choices to avoid irrational thinking.

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