Tag Archives: reasoning

Risk and Reward

Let us say you are in a game show. You are given a choice of two options A and B. With option A, you obtain a reward of Rs. 1 crore. With option B, one of two outcomes is chosen … Continue reading

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Sunk Costs

A sunk cost is an investment into an enterprise or scheme that has already been committed. It cannot be reverted. For instance, consider the act of reading a book. The number of hours you spend reading a book is the … Continue reading

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Selection Bias

Selection bias is a bias in reporting of cases, collection of evidence, recall of memories, etc. leading to incorrect estimations and inferences. One commonly occurring example I’ve noticed is that of explanations of success. (Now success is a very ill-defined … Continue reading

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