Human Behavior November 24, 2022

Probability Neglect

Probability Neglect

We are apprehensive about an airplane crash more than food poisoning, even though the probability of death by food poisoning is higher than an aviation crash.

We prefer to bet on a mega-million lottery than on a million jackpot, even if the probability of winning the former is way more minuscule than the latter. 

The more emotional a consequence is, the more we disregard its probability of occurring.

You may also like...

To Donate Time or Money?

Volunteering feels good. A lawyer earning $500 per hour can use the money to hire 2...

Worldview Shaped by Media

Most of us believe that the risk of terrorist attacks is larger than, say, motor accidents,...

A Hard Start

You are most vulnerable when you don’t have anything (yet). Others’ opinions of you can eradicate...

Untransferable Skills

What you master in one area does not make you adept at other similar areas. Writers...