Chapter
Changing the Rules and Bias in Decision-Making
1:24:14 - 1:29:37 (05:23)
The rules of a game were changed to alter the engagement and ring size, which was considered a significant change. There is a problem with the sampling bias and reliance on intuition in decision-making.
Clips
This podcast episode discusses the integration of cognitive biases into intuitive decision making and its importance in analyzing data from multiple experts.
1:24:14 - 1:26:17 (02:03)
Summary
This podcast episode discusses the integration of cognitive biases into intuitive decision making and its importance in analyzing data from multiple experts. The question of how cognitive biases can be made a part of intuition is also explored.
ChapterChanging the Rules and Bias in Decision-Making
Episode#659: Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More
PodcastThe Tim Ferriss Show
A founder advises investors to rely on their intuition in high-stress situations, but the interviewer questions whether that is good advice.
1:26:19 - 1:27:57 (01:38)
Summary
A founder advises investors to rely on their intuition in high-stress situations, but the interviewer questions whether that is good advice.
ChapterChanging the Rules and Bias in Decision-Making
Episode#659: Michael Mauboussin — How Great Investors Make Decisions, Harnessing The Wisdom (vs. Madness) of Crowds, Lessons from Race Horses, and More
PodcastThe Tim Ferriss Show
The rules for a game were changed, affecting the starting position for engagement and the size of the ring, which had significant consequences.
1:27:57 - 1:29:37 (01:40)
Summary
The rules for a game were changed, affecting the starting position for engagement and the size of the ring, which had significant consequences. Sampling bias is also an issue with intuition in design choices for games.