3min snip

The Michael Shermer Show cover image

Everything is Predictable: How Bayesian Statistics Explain Our World

The Michael Shermer Show

NOTE

Base Rates Matter: Beware of Cognitive Bias

Base rate neglect can lead to significant misunderstandings of probability, especially in situations involving large numbers. A low false positive rate can still result in a substantial number of false positives, highlighting the importance of considering the base rate. Cognitive heuristics often interfere with our reasoning, misleading us into overestimating the likelihood of specific scenarios that fit our narratives. Classic examples demonstrate how people misjudge probabilities when they favor a particular story, overlooking fundamental mathematical truths. Individuals tend to equate narrative compatibility with likelihood, resulting in distorted appraisals of probability, as illustrated by the Linda problem and other similar thought exercises.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode