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Learnings Mental Models

The Double Entry Bookkeeping Mental Model: Understanding its Impact on Decision-Making

Introduction: In the realm of decision-making, the human mind is prone to biases and fallacies that can lead to irrational judgments. One such cognitive bias is the Double Entry Bookkeeping mental model, which draws its name from the accounting practice of recording transactions in two corresponding accounts. This mental model involves the tendency to weigh […]