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‘The king died, and the queen died.’ B) ‘The king died, and the queen died of grief.’ Most people will retain the second story more easily. Here, the two deaths don’t just take place successively; they are emotionally linked. Story A is a factual report, but story B has ‘meaning’. According to information theory, we should be able to hold on to A better: it is shorter. But our brains don’t work that way. Advertisers have learned to capitalise on this too.
And you? Do you have everything under control?
What is the old adage? ‘Never ask a barber if you need a haircut.’
fallacy base-rate neglect: a disregard of fundamental distribution levels.
social loafing effect.
In 1990, Harry Markowitz received the Nobel Prize for Economics for his theory of ‘portfolio selection’.
Absence is much harder to detect than presence. In other words, we place greater emphasis on what is present than on what is absent.
there are hundreds, thousands, an infinite number of factors that add up.
Our actions are brought about by the interaction of thousands of factors
‘It’s simple. I removed everything that is not David.’
knowledge (what not to do) is much more potent than positive knowledge (what to do).
