Situations involving probability are notoriously bad for applying heuristics
1 year ago
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Situations involving probability are notoriously bad for applying heuristics.For instance, say you were to roll a die with four green faces and two red faces twenty times.You can choose one of
the following sequences of rolls,and if it shows up, you'll win $25.
Which would you pick?In one study, 65% of the participants
who were all college students chose sequence B even though A is shorter and contained within B,in other words, more likely.This is what's called a conjunction fallacy.Here, we expect to see more green rolls,so our brains can trick us into picking the less likely option.
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