Introduction In the realm of decision-making, Probabilistic Thinking emerges as a powerful mental model deeply rooted in human psychology. It revolves around understanding and embracing uncertainty, evaluating risks and rewards based on probabilities, and making informed choices accordingly. This mental model finds profound relevance in various decision-making processes, influencing our personal lives, business strategies, and […]
Introduction In the realm of decision-making, the concept of stochastic processes holds significant relevance. Stochastic processes refer to random sequences of events or phenomena that evolve over time. This mental model explores how our understanding of these processes is anchored in human psychology and its prevalence in our day-to-day lives. By grasping the fundamentals of […]
Introduction In the realm of decision-making, our minds are susceptible to various cognitive biases that can distort our perceptions and influence the choices we make. One prominent bias is Hindsight Bias, which refers to our tendency to perceive past events as more predictable than they actually were. This blog post aims to explore the Hindsight […]