More on Decision Making Errors

A while back some of us here read and really enjoyed one of the best books on human psychology and how it plays in economics and decision making.  It is by Nobel Prize winner Daniel Kahnemen called “Thinking, Fast and Slow”.   We highly recommend it,  one of the things discussed was more decision making errors created by “Regression to the Mean”.  The post below below is a fun and highly understandable example of yet another bias that creates bad decisions.

 

http://www.psychologyofgames.com/2010/03/regression-to-the-mean-and-owning-some-chumps/

 

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