With the constant stream of data about COVID-19, it can be hard to make sense of all the numbers. We look at the base rate fallacy, and how some people are making this mistake when assessing risk.

Recently I've been deep-diving into a model of brain, mind, and behavior—active inference and the free energy principle—developed by a leading neuroscientist and computational psychiatrist Karl ...

A discussion about sunk cost fallacy and why people struggle to leave situations that no longer serve them while learning how past experiences can become valuable lessons. #Psychology #PersonalGrowth ...

Narrative fallacy is a term introduced by Nassim Taleb [1]. It refers to our difficulty looking at a sequence of facts without connecting them in some way, either to each other or to something else we ...

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Economics professors typically cover the “economic way of thinking” in the first chapter of a principles of economics course. After covering 8-10 of the most important guideposts and principles of ...

Ever hear about the sunk cost fallacy? Does that ring a bell? Well, if it doesn't, it may be the reason behind the "I know what I have" statement in used car adverts, as well as the motive behind why ...

Do you think good moments and bad moments in life have to even out eventually? Here’s why this line of thinking may be fundamentally flawed. Imagine you are standing at a roulette wheel in a casino.