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Suppose you are the head of the Federal Drug Administration. You must decide whether or not to approve a drug for the terminally ill. The pills can have fatal side effects: they kill 20% of patients on the spot, but save the lives of the other 80% within a short period of time. What do you decide? Most would withhold approval. To them, waving through a drug that takes out every fifth person is a worse act than failing to administer the cure to the other 80% of patients. It is an absurd decision, and a perfect example of the omission bias. Suppose that you are aware of the bias and decide to ...more
The Art of Thinking Clearly: The Secrets of Perfect Decision-Making
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