Insensitivity To Base Rates: An Introduction
In statistics, a base rate refers to the percentage of a population (e.g. grasshoppers, people who live in New York, newborn babies) which have a characteristic. Given a random individual and no …
Representativeness heuristic
Choice Under Uncertainty
We use heuristics – rules of thumb – to make judgments. These can lead to certain predictable biases. These can lead to certain predictable biases. For instance, we classify situations …