Introduction In the realm of decision-making, understanding the underlying mental models that shape our perceptions is crucial. One such mental model that often leads to misguided judgments is the concept of Regression to the Mean. Rooted in human psychology, this phenomenon refers to the tendency for extreme outcomes to be followed by more average outcomes. […]
Introduction In the realm of decision-making, the human mind is often influenced by various cognitive biases and heuristics that can lead to suboptimal choices. One such bias, known as “Regression to the Mean,” holds a significant place in our daily lives and decision-making processes. Derived from statistical analysis, this mental model describes the tendency for […]