The Habits of Societies: The Power of Habit, Part 3b

In Part 1a, we had an introduction Duhigg’s book on habits. In Part 1b, we looked at some of the highlights and the key points from the first section (on individuals) of the book. In Part 2, we looked some of the stories that Duhigg shared in the second section about Michael Phelps, Alcoa, Starbucks, and the Rhode Island Hospital.  In yesterday’s […]

Don’t Fall for the Gambler’s Fallacy: List of Biases in Judgment and Decision-Making, Part 7

A little later in the day than I would have liked, but today’s cognitive bias is the gambler’s fallacy. The bias gets its name from, as you’d expect, gambling. The easiest example to think of is when you’re flipping a coin. If you flip a coin 4 times and each of those 4 times the […]