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Episode 022: Deciding, Fast and Slow with Dr. Daniel Kahneman
The Decision Education Podcast
How to judge investment promises more effectively
When assessing the probability of an event like an investment success, people often struggle with giving accurate judgments. Judging quality is easier as it allows for intensity scales, unlike probabilities which lack substance. To alleviate this challenge, it is suggested to avoid judgments of probability and instead focus on assessing the promise of an investment on an intensity scale. Some individuals prefer leaving these judgments implicit, finding comfort in intuition, despite the benefits of making judgments explicit. This divide between explicit and implicit judgments remains a point of discussion.
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