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Representativeness heuristic

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 …

Continue readingInsensitivity To Base Rates: An Introduction

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 …

Continue readingChoice Under Uncertainty

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