Learnings Mental Models

Unveiling Benford’s Law: The Hidden Patterns in Decision-Making

Introduction Benford’s Law, a fascinating mental model, reveals a surprising statistical phenomenon that affects decision-making processes. This concept suggests that in many naturally occurring sets of numerical data, the leading digits tend to follow a specific distribution pattern. Anchored in human psychology, Benford’s Law has far-reaching implications in our day-to-day lives, influencing personal decisions, business […]