Tagged: Amos Tversky

Law of small numbers

Cognitive Biases

The Law of small numbers

Amos and I called our first joint article “Belief in the Law of Small Numbers.” We explained, tongue-in-cheek, that “intuitions about random sampling appear...

Cognitive Biases

Loss Aversion

“In trying to make sense of this pessimism, Ridley, like Kahneman, sees a combination of cognitive biases and evolutionary psychology as the core of...

Cognitive Biases

The Anchoring Effect: Relying on evidence at immediate reach

In many situations, people make estimates by starting from an initial value that is adjusted to yield the final answer. The initial value, or...

Cognitive Biases / Economists

Richard H. Thaler: a symbol for behavioral economics

Richard H. Thaler was born in New Jersey in 1945. He attended Case Western Reserve University and received his bachelor degree in economics in...