Introduction In the realm of decision-making, the concept of exaptation introduces a fascinating mental model. Exaptation refers to the process where a trait or feature, originally evolved for one purpose, is repurposed for a completely different function. This model has profound relevance as it challenges our traditional notions of adaptation and opens up new avenues […]
Introduction In the realm of decision-making, the mental model of “Adaptation” holds significant relevance. Adaptation refers to the ability to adjust and respond to changing circumstances and environments. This blog post aims to provide a comprehensive exploration of the Adaptation mental model, its relevance in decision-making, examples of its occurrence in various contexts, biases that […]
Introduction In the realm of decision-making, understanding the concept of transaction costs is crucial for making rational choices that align with our best interests. Transaction costs encompass the various expenses, both tangible and intangible, incurred when engaging in an exchange or transaction. While often associated with economics, transaction costs have significant implications for decision-making across […]