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Econowmics

  • Home
  • Economics
    • Econometrics
    • Economics and History
    • Macroeconomics
    • Microeconomics
    • Miscellaneous
      • Awards and Honors
      • Economic Schools of Thought
      • Economic Quotes
      • Economic Videos
    • Terms and Concepts
  • Cognitive Biases
  • Data Analysis
    • Statistics
    • Python Programming
  • Contact
End of history illusion

Cognitive Biases

End of history illusion

End of history illusion refers to the fact that individuals assume that they will not change in the future, and will remain mostly the same.

Law of small numbers

Cognitive Biases

The Law of small numbers

Law of small numbers, or hasty generalization, is a cognitive bias and refers to the tendency to draw broad conclusions based on small data.

Law of Large Numbers - Old Adding Machine

Mathematics / Statistics / Terms and Concepts

The Law of Large Numbers

Law of Large Numbers (LLN) states that as the number of observations of an event increases, the observed probability approaches to the expected value.

Rational Preferences - Econowmics

Economics / Microeconomics / Terms and Concepts

Rational Preferences

An agent has rational preferences if her preferences fulfill two properties, that they are complete and that they are also transitive.

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Tag Cloud

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  • Daniel Kahneman
  • Amos Tversky
  • cognitive bias
  • Milton Friedman
  • Adam Smith
  • Wealth of Nations
  • Nobel Prize Laureate
  • Milton Friedman Prize For Advancing Liberty
  • Moral Hazard
  • The Conjunction Fallacy
  • The Linda Problem
  • Behavioral Economics
  • Dow Jones Industrial Average
  • World Economic Forum
  • WEF
  • Christine Lagarde
  • Foreign exchange rate
  • hyperinflation
  • economic development
  • Purchasing Power Parity
  • ppp
  • exchange rate
  • nobel prize in economics
  • The Economist
  • nobel prize laureate in economic sciences
  • Paul Slovic
  • paul samuelson
  • London School of Economics
  • The Sunk Cost Fallacy
  • daniel kahnemann

Python Programming

  • Benford's Law

    Benford’s Law

  • [Python] Binary Search

  • [Python] Catalan Numbers

  • Infinite Monkey Theorem - Simpsons

    Shakespeare’s Nightmare: Monkeys on Typewriters

  • ROT13 - Econowmics

    [Python] Rot-13 Encryption Method

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