Risk Savvy How To Make Good Decisions
by Gerd Gigerenzer · first published 2014
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Posits that "most of us, including doctors, lawyers, financial advisers, and elected officials, misunderstand statistics much more often than we think, leaving us not only misinformed, but vulnerable to exploitation. Yet there is hope. Anyone can learn to make better decisions for their health, finances, family, and business without needing to consult an expert or a super computer, and Gigerenzer shows us how"--
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Actually, a lot of medical doctors and "professionals" do not really know how probabilities work. For more on this, refer to Gerd Gigerenzer's Risk Savvy: How to Make Good Decisions. http://www.barnesandnoble.com/w/risk-savvy-gerd-gigerenzer/1...
on “Forex Investors May Face $1B Loss as Trade Site Vanishes” ↗The book with the theory mentioned in the article: 'Risk Savvy' How to Make Good Decisions: "In the age of Big Data we often believe that our predictions about the future are better than ever before. But as risk expert Gerd Gigerenzer shows, the surprising truth is that in the real world,…
on “Nudge economics: has push come to shove for a fashionable theory?” ↗…a principal-agent problem [2] for car driving. Assume that for example taxi drivers would steer the vehicle from a save place say as a drone. Would you want to drive with such a taxi? [1] Gigerenzer: Risk Savvy - How to make good decisions. [2] https://en.wikipedia.org/wiki/Principal–agent_problem
on “Skin in the Game as a Required Heuristic for Acting Under Uncertainty” ↗