Personal experience and notable events may be appealing but often tend to be unrepresentative.
In reality, the more unique the observation, the less likely it is to generalise. When dealing with complex decisions, many organisations now favour data-based algorithms over experience-based narratives.
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Similar ideas to Anecdotal evidence
An observation can also be an interpretation, a source of narrative data based on personal beliefs or prior experience.
For example, we believe that broccoli is a healthy food choice, or that we attended the biggest event of the year
We make decisions based on the information that we have. However, we tend to be more reliant on the negative more than the positive. This causes two outcomes:
Risk aversion β where we prefer an assured outcome over a gamble with a higher expected outcome; and
...First-hand exposure to death makes one live life in a spiritual, reflective manner.
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