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	<updated>2026-05-06T14:18:30Z</updated>
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		<updated>2026-04-25T01:52:19Z</updated>

		<summary type="html">&lt;p&gt;BloomWiki: Heuristics and Biases&lt;/p&gt;
&lt;table style=&quot;background-color: #fff; color: #202122;&quot; data-mw=&quot;interface&quot;&gt;
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				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;← Older revision&lt;/td&gt;
				&lt;td colspan=&quot;2&quot; style=&quot;background-color: #fff; color: #202122; text-align: center;&quot;&gt;Revision as of 01:52, 25 April 2026&lt;/td&gt;
				&lt;/tr&gt;&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l1&quot;&gt;Line 1:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 1:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;div style=&quot;background-color: #4B0082; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;&quot;&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;{{BloomIntro}}&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;{{BloomIntro}}&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Heuristics and Biases is the &amp;quot;Study of the Shortcuts&amp;quot;—the investigation of the &amp;quot;Mental Rules of Thumb&amp;quot; (Heuristics) that the &amp;quot;Human Brain&amp;quot; uses to &amp;quot;Make Fast Decisions&amp;quot; and the &amp;quot;Systematic Errors&amp;quot; (Biases) that &amp;quot;Result&amp;quot; from them. While &amp;quot;Logic&amp;quot; (see Article 111) is &amp;quot;Slow,&amp;quot; **Heuristics** are &amp;quot;Fast.&amp;quot; From &amp;quot;Anchoring&amp;quot; and &amp;quot;Availability&amp;quot; to &amp;quot;Representativeness&amp;quot; and the &amp;quot;Confirmation Bias,&amp;quot; this field explores the &amp;quot;Architecture of Error.&amp;quot; It is the science of &amp;quot;Cognitive Economy,&amp;quot; explaining why we &amp;quot;Fear&amp;quot; &amp;quot;Sharks&amp;quot; more than &amp;quot;Cars&amp;quot;—and how our &amp;quot;Intuition&amp;quot; &amp;quot;Fails&amp;quot; in a &amp;quot;Complex, Modern World.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Heuristics and Biases is the &amp;quot;Study of the Shortcuts&amp;quot;—the investigation of the &amp;quot;Mental Rules of Thumb&amp;quot; (Heuristics) that the &amp;quot;Human Brain&amp;quot; uses to &amp;quot;Make Fast Decisions&amp;quot; and the &amp;quot;Systematic Errors&amp;quot; (Biases) that &amp;quot;Result&amp;quot; from them. While &amp;quot;Logic&amp;quot; (see Article 111) is &amp;quot;Slow,&amp;quot; **Heuristics** are &amp;quot;Fast.&amp;quot; From &amp;quot;Anchoring&amp;quot; and &amp;quot;Availability&amp;quot; to &amp;quot;Representativeness&amp;quot; and the &amp;quot;Confirmation Bias,&amp;quot; this field explores the &amp;quot;Architecture of Error.&amp;quot; It is the science of &amp;quot;Cognitive Economy,&amp;quot; explaining why we &amp;quot;Fear&amp;quot; &amp;quot;Sharks&amp;quot; more than &amp;quot;Cars&amp;quot;—and how our &amp;quot;Intuition&amp;quot; &amp;quot;Fails&amp;quot; in a &amp;quot;Complex, Modern World.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/div&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;== Remembering ==&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;__TOC__&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt; &lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;div style&lt;/ins&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&quot;background-color: #000080; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;&quot;&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;= &amp;lt;span style=&quot;color: #FFFFFF;&quot;&amp;gt;&lt;/ins&gt;Remembering&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/span&amp;gt; &lt;/ins&gt;==&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Heuristic&amp;#039;&amp;#039;&amp;#039; — A &amp;quot;Mental Shortcut&amp;quot; that allows for &amp;quot;Fast,&amp;quot; &amp;quot;Frugal&amp;quot; decision-making (e.g., &amp;#039;If it&amp;#039;s expensive, it must be good&amp;#039;).&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Heuristic&amp;#039;&amp;#039;&amp;#039; — A &amp;quot;Mental Shortcut&amp;quot; that allows for &amp;quot;Fast,&amp;quot; &amp;quot;Frugal&amp;quot; decision-making (e.g., &amp;#039;If it&amp;#039;s expensive, it must be good&amp;#039;).&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Cognitive Bias&amp;#039;&amp;#039;&amp;#039; — A &amp;quot;Systematic Deviation&amp;quot; from &amp;quot;Rationality&amp;quot; in &amp;quot;Judgment&amp;quot; (A &amp;#039;Predictable Error&amp;#039;).&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Cognitive Bias&amp;#039;&amp;#039;&amp;#039; — A &amp;quot;Systematic Deviation&amp;quot; from &amp;quot;Rationality&amp;quot; in &amp;quot;Judgment&amp;quot; (A &amp;#039;Predictable Error&amp;#039;).&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l13&quot;&gt;Line 13:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 18:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Sunk Cost Fallacy&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where we &amp;quot;Continue&amp;quot; an &amp;quot;Activity&amp;quot; (like &amp;#039;Watching a bad movie&amp;#039;) because we have already &amp;quot;Invested&amp;quot; &amp;quot;Time or Money&amp;quot; in it.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Sunk Cost Fallacy&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where we &amp;quot;Continue&amp;quot; an &amp;quot;Activity&amp;quot; (like &amp;#039;Watching a bad movie&amp;#039;) because we have already &amp;quot;Invested&amp;quot; &amp;quot;Time or Money&amp;quot; in it.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Dunning-Kruger Effect&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where &amp;quot;Incompetent People&amp;quot; &amp;quot;Believe they are Experts,&amp;quot; while &amp;quot;Experts&amp;quot; &amp;quot;Underestimate&amp;quot; their &amp;quot;Relative Skill.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;* &amp;#039;&amp;#039;&amp;#039;Dunning-Kruger Effect&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where &amp;quot;Incompetent People&amp;quot; &amp;quot;Believe they are Experts,&amp;quot; while &amp;quot;Experts&amp;quot; &amp;quot;Underestimate&amp;quot; their &amp;quot;Relative Skill.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/div&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;== Understanding ==&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;div style&lt;/ins&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&quot;background-color: #006400; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;&quot;&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;= &amp;lt;span style=&quot;color: #FFFFFF;&quot;&amp;gt;&lt;/ins&gt;Understanding&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/span&amp;gt; &lt;/ins&gt;==&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Heuristics and biases are understood through &amp;#039;&amp;#039;&amp;#039;Speed&amp;#039;&amp;#039;&amp;#039; and &amp;#039;&amp;#039;&amp;#039;Mismatch&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Heuristics and biases are understood through &amp;#039;&amp;#039;&amp;#039;Speed&amp;#039;&amp;#039;&amp;#039; and &amp;#039;&amp;#039;&amp;#039;Mismatch&amp;#039;&amp;#039;&amp;#039;.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l41&quot;&gt;Line 41:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 48:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;#039;&amp;#039;&amp;#039;The &amp;#039;Linda Problem&amp;#039; &amp;#039;&amp;#039;&amp;#039;: A classic experiment. &amp;quot;Linda is 31, outspoken, and concerned with social justice.&amp;quot; People were asked if it&amp;#039;s more likely that: (A) Linda is a Bank Teller, or (B) Linda is a Bank Teller **and** active in the Feminist Movement. Most chose (B), even though (A) **must** be more likely (since B is a subset of A). It proved that &amp;quot;Narrative&amp;quot; (Representativeness) &amp;quot;Trumps&amp;quot; &amp;quot;Math&amp;quot; in the human mind.&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;#039;&amp;#039;&amp;#039;The &amp;#039;Linda Problem&amp;#039; &amp;#039;&amp;#039;&amp;#039;: A classic experiment. &amp;quot;Linda is 31, outspoken, and concerned with social justice.&amp;quot; People were asked if it&amp;#039;s more likely that: (A) Linda is a Bank Teller, or (B) Linda is a Bank Teller **and** active in the Feminist Movement. Most chose (B), even though (A) **must** be more likely (since B is a subset of A). It proved that &amp;quot;Narrative&amp;quot; (Representativeness) &amp;quot;Trumps&amp;quot; &amp;quot;Math&amp;quot; in the human mind.&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/div&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;== Applying ==&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;div style&lt;/ins&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&quot;background-color: #8B0000; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;&quot;&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;= &amp;lt;span style=&quot;color: #FFFFFF;&quot;&amp;gt;&lt;/ins&gt;Applying&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/span&amp;gt; &lt;/ins&gt;==&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;#039;&amp;#039;&amp;#039;Modeling &amp;#039;The Anchoring Effect&amp;#039; (Predicting &amp;#039;Valuation&amp;#039;):&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;#039;&amp;#039;&amp;#039;Modeling &amp;#039;The Anchoring Effect&amp;#039; (Predicting &amp;#039;Valuation&amp;#039;):&amp;#039;&amp;#039;&amp;#039;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;lt;syntaxhighlight lang=&amp;quot;python&amp;quot;&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;lt;syntaxhighlight lang=&amp;quot;python&amp;quot;&amp;gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l65&quot;&gt;Line 65:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 74:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;: &amp;#039;&amp;#039;&amp;#039;Self-Serving Bias&amp;#039;&amp;#039;&amp;#039; → The &amp;quot;Tendency&amp;quot; to &amp;quot;Take Credit&amp;quot; for &amp;quot;Success&amp;quot; but &amp;quot;Blame the Environment&amp;quot; for &amp;quot;Failure.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;: &amp;#039;&amp;#039;&amp;#039;Self-Serving Bias&amp;#039;&amp;#039;&amp;#039; → The &amp;quot;Tendency&amp;quot; to &amp;quot;Take Credit&amp;quot; for &amp;quot;Success&amp;quot; but &amp;quot;Blame the Environment&amp;quot; for &amp;quot;Failure.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;: &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Planning Fallacy&amp;#039; &amp;#039;&amp;#039;&amp;#039; → The &amp;quot;Bias&amp;quot; where we &amp;quot;Underestimate&amp;quot; &amp;quot;How Long&amp;quot; a task will take (e.g. &amp;#039;Every construction project ever&amp;#039;).&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;: &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Planning Fallacy&amp;#039; &amp;#039;&amp;#039;&amp;#039; → The &amp;quot;Bias&amp;quot; where we &amp;quot;Underestimate&amp;quot; &amp;quot;How Long&amp;quot; a task will take (e.g. &amp;#039;Every construction project ever&amp;#039;).&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/div&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;== Analyzing ==&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;div style&lt;/ins&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&quot;background-color: #8B4500; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;&quot;&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;= &amp;lt;span style=&quot;color: #FFFFFF;&quot;&amp;gt;&lt;/ins&gt;Analyzing&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/span&amp;gt; &lt;/ins&gt;==&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;{| class=&amp;quot;wikitable&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;{| class=&amp;quot;wikitable&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|+ Heuristic vs. Algorithm&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;|+ Heuristic vs. Algorithm&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l83&quot;&gt;Line 83:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 94:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;#039;&amp;#039;&amp;#039;The Concept of &amp;quot;De-biasing&amp;quot;&amp;#039;&amp;#039;&amp;#039;: Analyzing &amp;quot;The Cure.&amp;quot; Can we &amp;quot;Stop&amp;quot; being biased? Research shows that **&amp;quot;Knowing&amp;quot;** about a bias &amp;quot;Hardly Helps.&amp;quot; You cannot &amp;quot;Turn Off&amp;quot; System 1. The only &amp;quot;Cure&amp;quot; is **&amp;quot;Checklists&amp;quot;** and **&amp;quot;External Systems&amp;quot;** (see Article 602) that &amp;quot;Force&amp;quot; you to use **&amp;quot;System 2.&amp;quot;** &amp;quot;Don&amp;#039;t trust your brain; trust your process.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&amp;#039;&amp;#039;&amp;#039;The Concept of &amp;quot;De-biasing&amp;quot;&amp;#039;&amp;#039;&amp;#039;: Analyzing &amp;quot;The Cure.&amp;quot; Can we &amp;quot;Stop&amp;quot; being biased? Research shows that **&amp;quot;Knowing&amp;quot;** about a bias &amp;quot;Hardly Helps.&amp;quot; You cannot &amp;quot;Turn Off&amp;quot; System 1. The only &amp;quot;Cure&amp;quot; is **&amp;quot;Checklists&amp;quot;** and **&amp;quot;External Systems&amp;quot;** (see Article 602) that &amp;quot;Force&amp;quot; you to use **&amp;quot;System 2.&amp;quot;** &amp;quot;Don&amp;#039;t trust your brain; trust your process.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/div&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;== Evaluating ==&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;div style&lt;/ins&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&quot;background-color: #483D8B; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;&quot;&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;= &amp;lt;span style=&quot;color: #FFFFFF;&quot;&amp;gt;&lt;/ins&gt;Evaluating&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/span&amp;gt; &lt;/ins&gt;==&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Evaluating Heuristics and Biases:&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Evaluating Heuristics and Biases:&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;Rationality&amp;#039;&amp;#039;&amp;#039;: Is &amp;quot;Bias&amp;quot; &amp;quot;Truly Irrational&amp;quot;? (Is it &amp;#039;Rational&amp;#039; to &amp;#039;Save Time&amp;#039; even if you make &amp;#039;Small Errors&amp;#039;?).&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;Rationality&amp;#039;&amp;#039;&amp;#039;: Is &amp;quot;Bias&amp;quot; &amp;quot;Truly Irrational&amp;quot;? (Is it &amp;#039;Rational&amp;#039; to &amp;#039;Save Time&amp;#039; even if you make &amp;#039;Small Errors&amp;#039;?).&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l90&quot;&gt;Line 90:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 103:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;Politics&amp;#039;&amp;#039;&amp;#039;: How does &amp;quot;Confirmation Bias&amp;quot; create &amp;quot;Echo Chambers&amp;quot; (see Article 542) and &amp;quot;Polarization&amp;quot;?&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;Politics&amp;#039;&amp;#039;&amp;#039;: How does &amp;quot;Confirmation Bias&amp;quot; create &amp;quot;Echo Chambers&amp;quot; (see Article 542) and &amp;quot;Polarization&amp;quot;?&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;Impact&amp;#039;&amp;#039;&amp;#039;: Why do &amp;quot;Doctors&amp;quot; and &amp;quot;Judges&amp;quot; make &amp;quot;Predictable Errors&amp;quot; based on the &amp;quot;Time of Day&amp;quot;? (The &amp;#039;Noise&amp;#039; problem).&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;Impact&amp;#039;&amp;#039;&amp;#039;: Why do &amp;quot;Doctors&amp;quot; and &amp;quot;Judges&amp;quot; make &amp;quot;Predictable Errors&amp;quot; based on the &amp;quot;Time of Day&amp;quot;? (The &amp;#039;Noise&amp;#039; problem).&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/div&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;br&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;−&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;== Creating ==&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;div style&lt;/ins&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&quot;background-color: #2F4F4F; color: #FFFFFF; padding: 20px; border-radius: 8px; margin-bottom: 15px;&quot;&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;=&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;= &amp;lt;span style=&quot;color: #FFFFFF;&quot;&amp;gt;&lt;/ins&gt;Creating&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/span&amp;gt; &lt;/ins&gt;==&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Future Frontiers:&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;Future Frontiers:&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Bias-Correction&amp;#039; HUD&amp;#039;&amp;#039;&amp;#039;: AR glasses that &amp;quot;Highlight&amp;quot; &amp;quot;Anchors&amp;quot; and &amp;quot;Confirmation Bias&amp;quot; in &amp;quot;Real-Time&amp;quot; during a &amp;quot;Meeting.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;# &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Bias-Correction&amp;#039; HUD&amp;#039;&amp;#039;&amp;#039;: AR glasses that &amp;quot;Highlight&amp;quot; &amp;quot;Anchors&amp;quot; and &amp;quot;Confirmation Bias&amp;quot; in &amp;quot;Real-Time&amp;quot; during a &amp;quot;Meeting.&amp;quot;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot; id=&quot;mw-diff-left-l105&quot;&gt;Line 105:&lt;/td&gt;
&lt;td colspan=&quot;2&quot; class=&quot;diff-lineno&quot;&gt;Line 120:&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Category:Philosophy]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Category:Philosophy]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Category:Logic]]&lt;/div&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot;&gt;&lt;/td&gt;&lt;td style=&quot;background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;[[Category:Logic]]&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr&gt;&lt;td colspan=&quot;2&quot; class=&quot;diff-side-deleted&quot;&gt;&lt;/td&gt;&lt;td class=&quot;diff-marker&quot; data-marker=&quot;+&quot;&gt;&lt;/td&gt;&lt;td style=&quot;color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;&quot;&gt;&lt;div&gt;&lt;ins style=&quot;font-weight: bold; text-decoration: none;&quot;&gt;&amp;lt;/div&amp;gt;&lt;/ins&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;

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		<author><name>Wordpad</name></author>
	</entry>
	<entry>
		<id>http://bloomwiki.org/index.php?title=Heuristics_and_Biases&amp;diff=2110&amp;oldid=prev</id>
		<title>Wordpad: BloomWiki: Heuristics and Biases</title>
		<link rel="alternate" type="text/html" href="http://bloomwiki.org/index.php?title=Heuristics_and_Biases&amp;diff=2110&amp;oldid=prev"/>
		<updated>2026-04-23T17:15:30Z</updated>

		<summary type="html">&lt;p&gt;BloomWiki: Heuristics and Biases&lt;/p&gt;
&lt;p&gt;&lt;b&gt;New page&lt;/b&gt;&lt;/p&gt;&lt;div&gt;{{BloomIntro}}&lt;br /&gt;
Heuristics and Biases is the &amp;quot;Study of the Shortcuts&amp;quot;—the investigation of the &amp;quot;Mental Rules of Thumb&amp;quot; (Heuristics) that the &amp;quot;Human Brain&amp;quot; uses to &amp;quot;Make Fast Decisions&amp;quot; and the &amp;quot;Systematic Errors&amp;quot; (Biases) that &amp;quot;Result&amp;quot; from them. While &amp;quot;Logic&amp;quot; (see Article 111) is &amp;quot;Slow,&amp;quot; **Heuristics** are &amp;quot;Fast.&amp;quot; From &amp;quot;Anchoring&amp;quot; and &amp;quot;Availability&amp;quot; to &amp;quot;Representativeness&amp;quot; and the &amp;quot;Confirmation Bias,&amp;quot; this field explores the &amp;quot;Architecture of Error.&amp;quot; It is the science of &amp;quot;Cognitive Economy,&amp;quot; explaining why we &amp;quot;Fear&amp;quot; &amp;quot;Sharks&amp;quot; more than &amp;quot;Cars&amp;quot;—and how our &amp;quot;Intuition&amp;quot; &amp;quot;Fails&amp;quot; in a &amp;quot;Complex, Modern World.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
== Remembering ==&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Heuristic&amp;#039;&amp;#039;&amp;#039; — A &amp;quot;Mental Shortcut&amp;quot; that allows for &amp;quot;Fast,&amp;quot; &amp;quot;Frugal&amp;quot; decision-making (e.g., &amp;#039;If it&amp;#039;s expensive, it must be good&amp;#039;).&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Cognitive Bias&amp;#039;&amp;#039;&amp;#039; — A &amp;quot;Systematic Deviation&amp;quot; from &amp;quot;Rationality&amp;quot; in &amp;quot;Judgment&amp;quot; (A &amp;#039;Predictable Error&amp;#039;).&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Anchoring&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where people &amp;quot;Rely Too Heavily&amp;quot; on the &amp;quot;First Piece of Information&amp;quot; (The &amp;#039;Anchor&amp;#039;) they receive (e.g., &amp;#039;The first price mentioned in a negotiation&amp;#039;).&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Availability Heuristic&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where people &amp;quot;Estimate Probability&amp;quot; based on &amp;quot;How Easily&amp;quot; an &amp;quot;Example&amp;quot; comes to &amp;quot;Mind&amp;quot; (e.g., &amp;#039;Fearing plane crashes because they are on the news&amp;#039;).&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Representativeness Heuristic&amp;#039;&amp;#039;&amp;#039; — &amp;quot;Judging&amp;quot; the &amp;quot;Likelihood&amp;quot; of an event based on &amp;quot;How Well it Matches&amp;quot; a &amp;quot;Stereotype&amp;quot; (e.g., &amp;#039;The Linda Problem&amp;#039;).&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Confirmation Bias&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Tendency&amp;quot; to &amp;quot;Seek Out,&amp;quot; &amp;quot;Interpret,&amp;quot; and &amp;quot;Remember&amp;quot; information that &amp;quot;Supports&amp;quot; our &amp;quot;Existing Beliefs.&amp;quot;&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Hindsight Bias&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Tendency&amp;quot; to &amp;quot;Believe&amp;quot; that an event was &amp;quot;Predictable&amp;quot; &amp;quot;After it has Happened&amp;quot; (&amp;#039;I knew it all along&amp;#039;).&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Overconfidence Bias&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Tendency&amp;quot; to &amp;quot;Overestimate&amp;quot; our &amp;quot;Knowledge,&amp;quot; &amp;quot;Ability,&amp;quot; and &amp;quot;Precision.&amp;quot;&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Sunk Cost Fallacy&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where we &amp;quot;Continue&amp;quot; an &amp;quot;Activity&amp;quot; (like &amp;#039;Watching a bad movie&amp;#039;) because we have already &amp;quot;Invested&amp;quot; &amp;quot;Time or Money&amp;quot; in it.&lt;br /&gt;
* &amp;#039;&amp;#039;&amp;#039;Dunning-Kruger Effect&amp;#039;&amp;#039;&amp;#039; — The &amp;quot;Bias&amp;quot; where &amp;quot;Incompetent People&amp;quot; &amp;quot;Believe they are Experts,&amp;quot; while &amp;quot;Experts&amp;quot; &amp;quot;Underestimate&amp;quot; their &amp;quot;Relative Skill.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
== Understanding ==&lt;br /&gt;
Heuristics and biases are understood through &amp;#039;&amp;#039;&amp;#039;Speed&amp;#039;&amp;#039;&amp;#039; and &amp;#039;&amp;#039;&amp;#039;Mismatch&amp;#039;&amp;#039;&amp;#039;.&lt;br /&gt;
&lt;br /&gt;
&amp;#039;&amp;#039;&amp;#039;1. The &amp;quot;Efficient&amp;quot; Brain (System 1)&amp;#039;&amp;#039;&amp;#039;:&lt;br /&gt;
Why do we have &amp;quot;Biases&amp;quot; at all?&lt;br /&gt;
* (See Article 616). **System 1** is &amp;quot;Always On.&amp;quot;&lt;br /&gt;
* It must &amp;quot;Make Decisions&amp;quot; in &amp;quot;Milliseconds&amp;quot; to &amp;quot;Keep us Alive.&amp;quot;&lt;br /&gt;
* **Heuristics** are &amp;quot;Good Enough&amp;quot; for **95% of Life.**&lt;br /&gt;
* If you see &amp;quot;Movement&amp;quot; in the &amp;quot;Grass,&amp;quot; you don&amp;#039;t &amp;quot;Calculate Probability&amp;quot;—you **&amp;quot;Run.&amp;quot;**&lt;br /&gt;
* &amp;quot;Bias&amp;quot; is the &amp;quot;Price&amp;quot; of **&amp;quot;Speed.&amp;quot;**&lt;br /&gt;
&lt;br /&gt;
&amp;#039;&amp;#039;&amp;#039;2. The &amp;quot;Modern&amp;quot; Mismatch (Evolution)&amp;#039;&amp;#039;&amp;#039;:&lt;br /&gt;
Why do we fear &amp;quot;The Wrong Things&amp;quot;?&lt;br /&gt;
* Our &amp;quot;Brain&amp;quot; evolved in the **&amp;quot;Savanna&amp;quot;** (see Article 571).&lt;br /&gt;
* In the Savanna, **&amp;quot;Availability&amp;quot;** (What you saw recently) was a &amp;quot;Great Way&amp;quot; to &amp;quot;Learn about Danger.&amp;quot;&lt;br /&gt;
* In the **&amp;quot;Modern World&amp;quot;**, &amp;quot;The News&amp;quot; (see Article 542) &amp;quot;Floods&amp;quot; our brain with &amp;quot;Rare Disasters.&amp;quot;&lt;br /&gt;
* Our &amp;quot;Savanna Brain&amp;quot; thinks these &amp;quot;Rare Events&amp;quot; are &amp;quot;Everywhere.&amp;quot;&lt;br /&gt;
* We have **&amp;quot;Primitive Software&amp;quot;** running on **&amp;quot;High-Tech Hardware.&amp;quot;**&lt;br /&gt;
&lt;br /&gt;
&amp;#039;&amp;#039;&amp;#039;3. The &amp;quot;Anchor&amp;quot; of the Mind (Comparison)&amp;#039;&amp;#039;&amp;#039;:&lt;br /&gt;
The &amp;quot;Relativity&amp;quot; of Value.&lt;br /&gt;
* If a &amp;quot;Shirt&amp;quot; costs **$100**, you think it&amp;#039;s &amp;quot;Expensive.&amp;quot;&lt;br /&gt;
* If you see a **$500** shirt first, and then the **$100** shirt is &amp;quot;On Sale,&amp;quot; you think it&amp;#039;s a **&amp;quot;Bargain.&amp;quot;**&lt;br /&gt;
* The &amp;quot;Brain&amp;quot; is **&amp;quot;Terrible&amp;quot;** at &amp;quot;Absolute Measurement&amp;quot; but **&amp;quot;Great&amp;quot;** at &amp;quot;Comparison.&amp;quot;&lt;br /&gt;
* &amp;quot;Marketers&amp;quot; use this &amp;quot;Anchor&amp;quot; to &amp;quot;Control&amp;quot; your &amp;quot;Perception of Value.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
&amp;#039;&amp;#039;&amp;#039;The &amp;#039;Linda Problem&amp;#039; &amp;#039;&amp;#039;&amp;#039;: A classic experiment. &amp;quot;Linda is 31, outspoken, and concerned with social justice.&amp;quot; People were asked if it&amp;#039;s more likely that: (A) Linda is a Bank Teller, or (B) Linda is a Bank Teller **and** active in the Feminist Movement. Most chose (B), even though (A) **must** be more likely (since B is a subset of A). It proved that &amp;quot;Narrative&amp;quot; (Representativeness) &amp;quot;Trumps&amp;quot; &amp;quot;Math&amp;quot; in the human mind.&lt;br /&gt;
&lt;br /&gt;
== Applying ==&lt;br /&gt;
&amp;#039;&amp;#039;&amp;#039;Modeling &amp;#039;The Anchoring Effect&amp;#039; (Predicting &amp;#039;Valuation&amp;#039;):&amp;#039;&amp;#039;&amp;#039;&lt;br /&gt;
&amp;lt;syntaxhighlight lang=&amp;quot;python&amp;quot;&amp;gt;&lt;br /&gt;
def estimate_value_with_anchor(true_value, anchor_value, susceptibility_pct):&lt;br /&gt;
    &amp;quot;&amp;quot;&amp;quot;&lt;br /&gt;
    Shows how &amp;#039;Irrelevant Numbers&amp;#039; pull our estimates.&lt;br /&gt;
    &amp;quot;&amp;quot;&amp;quot;&lt;br /&gt;
    # Estimate is pulled toward the anchor&lt;br /&gt;
    pull_strength = susceptibility_pct / 100&lt;br /&gt;
    estimated_value = true_value + (anchor_value - true_value) * pull_strength&lt;br /&gt;
    &lt;br /&gt;
    error = abs(estimated_value - true_value)&lt;br /&gt;
    return f&amp;quot;ESTIMATED VALUE: ${round(estimated_value, 2)}. (Error due to Anchor: ${round(error, 2)}).&amp;quot;&lt;br /&gt;
&lt;br /&gt;
# Case: Estimating the price of a house ($500k) after seeing a &amp;#039;High Anchor&amp;#039; ($800k)&lt;br /&gt;
print(estimate_value_with_anchor(500000, 800000, 30))&lt;br /&gt;
&amp;lt;/syntaxhighlight&amp;gt;&lt;br /&gt;
&lt;br /&gt;
; Heuristic Landmarks&lt;br /&gt;
: &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Availability&amp;#039; of Fear&amp;#039;&amp;#039;&amp;#039; → Why people are &amp;quot;Afraid of Sharks&amp;quot; (1 death/year) but not &amp;quot;Ladders&amp;quot; (300 deaths/year): because &amp;quot;Sharks&amp;quot; make for &amp;quot;Better Movies.&amp;quot;&lt;br /&gt;
: &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Halo Effect&amp;#039; &amp;#039;&amp;#039;&amp;#039; → The &amp;quot;Bias&amp;quot; where we &amp;quot;Assume&amp;quot; that because someone is &amp;quot;Good-looking&amp;quot; or &amp;quot;Famous,&amp;quot; they are also &amp;quot;Smart&amp;quot; or &amp;quot;Kind.&amp;quot;&lt;br /&gt;
: &amp;#039;&amp;#039;&amp;#039;Self-Serving Bias&amp;#039;&amp;#039;&amp;#039; → The &amp;quot;Tendency&amp;quot; to &amp;quot;Take Credit&amp;quot; for &amp;quot;Success&amp;quot; but &amp;quot;Blame the Environment&amp;quot; for &amp;quot;Failure.&amp;quot;&lt;br /&gt;
: &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Planning Fallacy&amp;#039; &amp;#039;&amp;#039;&amp;#039; → The &amp;quot;Bias&amp;quot; where we &amp;quot;Underestimate&amp;quot; &amp;quot;How Long&amp;quot; a task will take (e.g. &amp;#039;Every construction project ever&amp;#039;).&lt;br /&gt;
&lt;br /&gt;
== Analyzing ==&lt;br /&gt;
{| class=&amp;quot;wikitable&amp;quot;&lt;br /&gt;
|+ Heuristic vs. Algorithm&lt;br /&gt;
! Feature !! Heuristic (The Shortcut) !! Algorithm (The Logic)&lt;br /&gt;
|-&lt;br /&gt;
| Speed || &amp;quot;Instant / Intuitive&amp;quot; || &amp;quot;Slow / Calculated&amp;quot;&lt;br /&gt;
|-&lt;br /&gt;
| Accuracy || &amp;quot;Variable / Error-prone&amp;quot; || &amp;quot;Precise / Consistent&amp;quot;&lt;br /&gt;
|-&lt;br /&gt;
| Effort || &amp;quot;Low / Automatic&amp;quot; || &amp;quot;High / Conscious&amp;quot;&lt;br /&gt;
|-&lt;br /&gt;
| Best For || &amp;quot;Survival / Socializing&amp;quot; || &amp;quot;Science / Math / Finance&amp;quot;&lt;br /&gt;
|-&lt;br /&gt;
| Analogy || A &amp;#039;Hunch&amp;#039; || A &amp;#039;Calculator&amp;#039;&lt;br /&gt;
|}&lt;br /&gt;
&lt;br /&gt;
&amp;#039;&amp;#039;&amp;#039;The Concept of &amp;quot;De-biasing&amp;quot;&amp;#039;&amp;#039;&amp;#039;: Analyzing &amp;quot;The Cure.&amp;quot; Can we &amp;quot;Stop&amp;quot; being biased? Research shows that **&amp;quot;Knowing&amp;quot;** about a bias &amp;quot;Hardly Helps.&amp;quot; You cannot &amp;quot;Turn Off&amp;quot; System 1. The only &amp;quot;Cure&amp;quot; is **&amp;quot;Checklists&amp;quot;** and **&amp;quot;External Systems&amp;quot;** (see Article 602) that &amp;quot;Force&amp;quot; you to use **&amp;quot;System 2.&amp;quot;** &amp;quot;Don&amp;#039;t trust your brain; trust your process.&amp;quot;&lt;br /&gt;
&lt;br /&gt;
== Evaluating ==&lt;br /&gt;
Evaluating Heuristics and Biases:&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;Rationality&amp;#039;&amp;#039;&amp;#039;: Is &amp;quot;Bias&amp;quot; &amp;quot;Truly Irrational&amp;quot;? (Is it &amp;#039;Rational&amp;#039; to &amp;#039;Save Time&amp;#039; even if you make &amp;#039;Small Errors&amp;#039;?).&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;Justice&amp;#039;&amp;#039;&amp;#039;: (See Article 560). How do &amp;quot;Heuristics&amp;quot; lead to &amp;quot;Stereotyping&amp;quot; and &amp;quot;Systemic Racism&amp;quot;?&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;Politics&amp;#039;&amp;#039;&amp;#039;: How does &amp;quot;Confirmation Bias&amp;quot; create &amp;quot;Echo Chambers&amp;quot; (see Article 542) and &amp;quot;Polarization&amp;quot;?&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;Impact&amp;#039;&amp;#039;&amp;#039;: Why do &amp;quot;Doctors&amp;quot; and &amp;quot;Judges&amp;quot; make &amp;quot;Predictable Errors&amp;quot; based on the &amp;quot;Time of Day&amp;quot;? (The &amp;#039;Noise&amp;#039; problem).&lt;br /&gt;
&lt;br /&gt;
== Creating ==&lt;br /&gt;
Future Frontiers:&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;The &amp;#039;Bias-Correction&amp;#039; HUD&amp;#039;&amp;#039;&amp;#039;: AR glasses that &amp;quot;Highlight&amp;quot; &amp;quot;Anchors&amp;quot; and &amp;quot;Confirmation Bias&amp;quot; in &amp;quot;Real-Time&amp;quot; during a &amp;quot;Meeting.&amp;quot;&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;Personal &amp;#039;Logic&amp;#039; AI-Partner&amp;#039;&amp;#039;&amp;#039;: (See Article 08). An AI that &amp;quot;Monitors your Thoughts&amp;quot; and &amp;quot;Interrupts&amp;quot; when you are &amp;quot;Falling&amp;quot; for a &amp;quot;Heuristic.&amp;quot;&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;Global &amp;#039;Evidence&amp;#039; Markets&amp;#039;&amp;#039;&amp;#039;: A &amp;quot;Platform&amp;quot; that &amp;quot;Rewards&amp;quot; people for &amp;quot;Finding Information&amp;quot; that **&amp;quot;Contradicts&amp;quot;** their &amp;quot;Beliefs,&amp;quot; &amp;quot;Fighting&amp;quot; &amp;quot;Confirmation Bias.&amp;quot;&lt;br /&gt;
# &amp;#039;&amp;#039;&amp;#039;Automated &amp;#039;Hindsight&amp;#039; Log&amp;#039;&amp;#039;&amp;#039;: A &amp;quot;Digital Journal&amp;quot; that &amp;quot;Records&amp;quot; your &amp;quot;Actual Predictions&amp;quot; before an event, &amp;quot;Preventing&amp;quot; your &amp;quot;Brain&amp;quot; from &amp;quot;Rewriting History&amp;quot; after.&lt;br /&gt;
&lt;br /&gt;
[[Category:Arts]]&lt;br /&gt;
[[Category:Science]]&lt;br /&gt;
[[Category:Psychology]]&lt;br /&gt;
[[Category:Behavioral Economics]]&lt;br /&gt;
[[Category:Decision Science]]&lt;br /&gt;
[[Category:Philosophy]]&lt;br /&gt;
[[Category:Logic]]&lt;/div&gt;</summary>
		<author><name>Wordpad</name></author>
	</entry>
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