Ideas from books, articles & podcasts.
We use probability to assess how risky something is, such as an investment or an action we want to take. But if we just use probability to assess risk, we fail to take into account how bad the potential negative outcomes will be if they do occur.
For example, would you rather get
The expected value is the same, but the negative results in the second scenario would be really bad. The risk is much higher.
MORE IDEAS FROM THE SAME BOOK
Headlines like “New study shows milk is related to Alzheimer’s.” “This study reveals how much you really do at work.” is problematic for these reasons:
Math is a science that helps us solve common problems and enable us to be right about our decisions. Math is mostly just common sense. We intuitively use logic and reason to solve "math" problems.
created 17 ideas
Why Dating Is Harder Now Than Ever Before. But there’s hope. Using insights from behavioural science, we can take control of our love lives.
created 5 ideas
created 15 ideas
To really succeed and reach a higher level of performance, you have to shift from a How-mentality to a Who-mentality. By focusing on who you work with rather than trying to do everything yourself, you'll find your levels of achievement will rise at the same time as you get dramatically more freedom. It's a win-win situation.
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