Chapter
Cognitive Biases in Chess and Investing
50:49 - 56:17 (05:28)
In the world of chess, unlimited and accurate feedback loops through computers help great players be less conscious of cognitive biases such as sunk cost fallacy. However, in fields like investing where feedback loops are less accurate, creativity in creating feedback loops is essential for success.
Clips
In this podcast, the host and guest discuss how cognitive biases affect decision-making in different fields such as chess and investing.
50:49 - 56:17 (05:28)
Cognitive Biases
Summary
In this podcast, the host and guest discuss how cognitive biases affect decision-making in different fields such as chess and investing. They highlight how the presence of accurate feedback loops can impact the degree to which cognitive biases affect decision-making.