Introduction In the intricate realm of decision-making, the Bullwhip effect stands as a compelling mental model that sheds light on our tendency to make irrational choices, often contrary to our best interests. Stemming from a phenomenon observed in supply chain management, the Bullwhip effect describes how small fluctuations in consumer demand can amplify as they […]
Introduction In the complex landscape of decision-making, our minds often resort to shortcuts and simplifications. One such mental model is the Hasty Generalization, where we draw broad conclusions based on limited evidence or a single instance. Anchored in human psychology, this mental bias can lead to irrational decisions that are contrary to our best interests. […]