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Tag: social conformity

The Mental Model That Clouds Our Decision-Making

Post author By Patrick
Post date June 15, 2023
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Introduction In the vast landscape of decision-making, it is crucial to understand the underlying mental models that shape our thought processes. One such model, often overlooked yet pervasive, is the Replication mental model. Replication refers to the tendency of individuals to mimic or imitate the behaviors, choices, and opinions of others without questioning their validity […]

Tags business strategies, Cognitive Biases, Decision-Making, mental models, personal growth, psychology, Public Policy, Replication, self-awareness, social conformity

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The Nash Equilibrium Mental Model: Unraveling the Fallacy of Rationality in Decision-Making

Post author By Patrick
Post date June 7, 2023
No Comments on The Nash Equilibrium Mental Model: Unraveling the Fallacy of Rationality in Decision-Making

Introduction In the realm of decision-making, the Nash Equilibrium mental model plays a significant role. Coined after the brilliant mathematician John Nash, this concept seeks to explain a common phenomenon: individuals or groups, driven by self-interest, often make choices that are contrary to what may seem rational at first glance. Nash Equilibrium is not only […]

Tags awareness, biases, Business Scenarios, Cognitive Biases, confirmation bias, Decision-Making, decision-making processes, examples, game theory, Human Psychology, Loss Aversion, mental models, Nash Equilibrium, Objective Decision-Making, Personal Life Decisions, Public Policy Making, rationality, social conformity, strategies