Introduction In the complex world we inhabit, decision making is an inherent part of our daily lives. However, uncertainty often lurks in the shadows, shaping the choices we make and the outcomes we experience. One such form of uncertainty is known as Knightian Uncertainty, named after economist Frank Knight, who first introduced the concept in […]
Introduction The Ecosystems mental model is a powerful framework that helps us understand the interconnectedness and interdependencies of various elements in decision making. Anchored in human psychology, this model recognizes the prevalence of ecosystems in our day-to-day lives, from personal choices to business strategies and public policy-making. In this comprehensive blog post, we will explore […]
Introduction Incentives play a pivotal role in shaping our decisions, whether at a personal, business, or policy level. Understanding the concept of incentives and how they influence our behavior is crucial for making informed choices and avoiding potential pitfalls. Anchored in human psychology, the study of incentives sheds light on why we often act in […]
Introduction In the realm of decision making, numerous mental models guide our thought processes. One such model, the Lindy Effect, offers valuable insights into the illusions of durability and timelessness that often sway our choices. Rooted in human psychology, this concept asserts that the future life expectancy of non-perishable entities can be predicted based on […]
Introduction In the vast landscape of human decision-making, mental models serve as indispensable tools that shape our understanding and guide our actions. Among these models, the Burdens of Proof stands out as a compelling concept deeply rooted in human psychology. It highlights the significance of evidence and rationality in our decision-making processes. In this blog […]
Introduction In the realm of decision making, our judgments are often influenced by cognitive biases. One such bias is the Plain Folks Fallacy, a mental model deeply rooted in human psychology that significantly impacts our day-to-day lives. This fallacy involves making irrational decisions based on the perceived trustworthiness and relatability of individuals or groups who […]