Monday, June 11, 2012

Thinking Fast and Slow

I started reading this book.  It is quite interesting on the bias of our thinking.  The author is a Nobel prize winner for his research into how we make decisions.  Having the benefits of hindsight, we tends to think our reasonings are sound and stick to them even though they may be wrong.  The simple example is this.  A man who is an introvert, enjoying reading.  What is the likely vocation he will be - librarian or farmer?  Most if not all will pick librarian.  However, statistic is for every 1 librarian there will be 10 farmer.  So our man is more likely to be a farmer than a library.  Everyone needs to be working on a job, right?  Hence the flaw in our thinking as we do not take into account statistics.

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