Learnings Mental Models

The Neglect of Base Rate: Unveiling the Hidden Influence on Decision-Making

Introduction In the realm of decision-making, our cognitive biases can often lead us astray, hindering our ability to make rational choices. One such mental model that sheds light on this phenomenon is the Neglect of Base Rate. This model refers to our tendency to disregard the statistical base rate information when making judgments or predictions, […]