Although our intuitions can be useful in dealing with other people and social relationships (which evolved as common and important for a social primate species such as ours when we were struggling to survive in the harsh environs of the Paleolithic), they are misleading when it comes to such probabilistic problems as gambling.
Extraordinary events do not always require extraordinary causes. Given enough time, they can happen by chance. Knowing this, Mlodinow says, “we can improve our skill at decision making and tame some of the biases that lead us to make poor judgments and poor choices ... and we can learn to judge decisions by the spectrum of potential outcomes they might have produced rather than by the particular result that actually occurred.” Embrace the random. Find the pattern. Know the difference.
Thursday, October 2, 2008
How Randomness Rules Our World and Why We Cannot See It
” Embrace the random. Find the pattern. Know the difference."...
Posted by Sodsy at 9:26 PM