Introduction In the intricate landscape of decision-making, our minds often resort to shortcuts and mental models to simplify complex choices. One such mental model, the Think Experiment, plays a significant role in shaping our decisions, sometimes leading us astray. Anchored in human psychology, this cognitive bias manifests itself in various aspects of our lives, from […]
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 realm of decision-making, we often rely on mental models—cognitive frameworks that help us understand and interpret information. One such mental model, known as Okrent’s Law, sheds light on the irrational tendencies that can plague our choices. Coined by Daniel Okrent, the law captures the common occurrence of individuals or groups making decisions […]
Introduction In our daily lives, we are constantly faced with decisions that shape our personal and professional trajectories. However, the human mind is not an infallible beacon of rationality. Instead, it operates within the boundaries of what is known as bounded rationality. Coined by Nobel laureate Herbert A. Simon, bounded rationality is a concept that […]