Post. 3 Dec 2017.

“Kahneman and Tversky found that participants in their studies ignored the relevant statistical facts and relied exclusively on resemblance. They used resemblance as a heuristic (rule of thumb) to simplify things when making a difficult judgment. Relying on this heuristic caused predictable biases (systematic errors) in their predictions. The research partners learned that people tendContinue reading “Post. 3 Dec 2017.”