Quote of the Day “By treating decisions as bets, poker players explicitly recognize that they are deciding on alternative futures, each with benefits and risks. They also recognize there are no simple answers. Some things are unknown or unknowable. The
Quote of the Day
Quote of the Day
Quote of the Day “Being wrong hurts us more than being right feels good. We know from Daniel Kahneman and Amos Tversky’s work on loss aversion, part of prospect theory (which won Kahneman the Nobel Prize in Economics in 2002),
Quote of the Day “…in science, “I don’t know” is not a failure but a necessary step toward enlightenment. A great quote from physicist James Clerk Maxwell is: “Thoroughly conscious ignorance is the prelude to every real advance in science.”
Quote of the Day “We are discouraged from saying “I don’t know” or “I’m not sure.” We regard those expressions as vague, unhelpful, and even evasive. But getting comfortable with “I’m not sure” is a vital step to being a
Quote of the Day “Most of what we do daily exists in automatic processing. We have habits and defaults that we rarely examine, from gripping a pencil to swerving to avoid an auto accident. The challenge is not to change
Quote of the Day “When our ancestors heard rustling on the savanna and a lion jumped out, making a connection between “rustling” and “lions” could save their lives on later occasions. Finding predictable connections is, literally, how our species survived.
Quote of the Day “His decision-making behavior going forward reflected the belief that he made a mistake. He was not only resulting but also succumbing to its companion, hindsight bias. Hindsight bias is the tendency, after an outcome is known,
Quote of the Day “[Pete] Carroll got unlucky. He had control over the quality of the play-call decision, but not over how it turned out. It was exactly because he didn’t get a favorable result that he took the heat.