Learnings Mental Models

The Gambler’s Ruin: Avoiding the Pitfalls of Irrational Decision-Making

Introduction The Gambler’s Ruin is a mental model that explores the fallacy of believing in a winning streak or an eventual reversal of fortunes. It refers to the tendency of individuals to continue gambling or taking risks based on the expectation that they will eventually overcome losses or achieve a positive outcome. This model is […]