Introduction In the realm of decision-making, the concept of Foundational Species offers valuable insights into how individuals often rely heavily on initial information or reference points when making judgments or choices. This mental model, rooted in human psychology, can have significant implications for decision-making processes in various aspects of our lives. Understanding the Foundational Species […]
Introduction In the realm of decision-making, understanding the mental models that shape our choices is invaluable. One such powerful model is the Kelly Criterion. This concept provides a systematic approach to managing risk and maximizing long-term growth. Anchored in human psychology, the Kelly Criterion influences our day-to-day lives, from personal decisions to business strategies and […]
Introduction In the complex realm of decision-making, the mental model of Preferential Attachment emerges as a significant force. Rooted in human psychology, this concept suggests that individuals tend to favor options that have already gained popularity or resources. Preferential Attachment operates on the principle that the rich get richer and the popular get more popular. […]
Introduction In the realm of decision-making, understanding the psychological biases that influence our choices is crucial. One such bias is Cunningham’s Law, which states that the best way to get the right answer is to post the wrong answer. Anchored in human psychology, this mental model highlights the tendency to seek correction and validation from […]
Introduction In the realm of decision-making, understanding the underlying psychological biases that influence our choices is paramount. One such bias is Vierordt’s Law, which sheds light on how humans tend to misjudge the passage of time. Named after the German psychologist Karl Vierordt, this mental model states that individuals perceive shorter durations as longer and […]
Introduction In the realm of decision-making, the Intellectual Property (IP) mental model plays a significant role, shaping our perceptions and influencing our choices. IP refers to the concept of ownership and the exclusive rights associated with creations of the mind, such as inventions, literary and artistic works, symbols, names, and designs. This mental model is […]