Learnings Mental Models

Understanding the Law of Large Numbers: Avoiding Pitfalls in Decision-Making

Introduction In the realm of decision-making, human minds are often swayed by cognitive biases that can lead to irrational judgments. One such bias, known as the Law of Large Numbers mental model, plays a significant role in shaping our decision-making processes. Anchored in human psychology, this model relates to the belief that outcomes will align […]