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Tag: diverse information

Bayesian Update: Unleashing Rational Decision-Making

Post author By Patrick
Post date June 16, 2023
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Introduction The Bayesian Update mental model revolutionizes decision-making by incorporating new evidence and adjusting beliefs and probabilities accordingly. Anchored in human psychology, this model allows individuals to update their understanding of the world based on incoming information. By embracing Bayesian Update, individuals can make more rational decisions, adapt to changing circumstances, and optimize their outcomes. […]

Tags Availability Heuristic, Bayesian Update, Cognitive Biases, confirmation bias, Decision-Making, diverse information, evidence-based decision-making, metacognition, open dialogue., overconfidence bias, probability theory, rationality, updating beliefs

Learnings Mental Models

The Heuristic for Availability: Navigating the Pitfalls of Mental Accessibility

Post author By Patrick
Post date June 9, 2023
No Comments on The Heuristic for Availability: Navigating the Pitfalls of Mental Accessibility

Introduction In the realm of decision-making, the Heuristic for Availability is a mental model that influences our judgments and choices. Anchored in human psychology, this heuristic suggests that the ease with which examples or information come to mind shapes our perception of their likelihood or importance. Understanding the relevance of the Heuristic for Availability is […]

Tags anchoring bias, availability bias, bias, Business Scenarios, Decision-Making, diverse information, heuristic for availability, Human Psychology, mental models, Personal Life Decisions, priming effect, Public Policy Making, reflective thinking, systematic analysis.