Monkeys Make The Same Bad Gambling Decisions That Humans Do

Humans have a remarkable ability to see patterns where none exist. In the hot-hand phenomenon we perceive streaks of wins or losses where the data, in truth, are random. New research shows that monkeys are subject to the same bias, which might suggest that the bias is evolutionarily adaptive, and maybe even rational. » 7/01/14 10:40am 7/01/14 10:40am

How to manipulate people into choosing the worst option

When we are choosing which action to take, one of the most basic calculations which guide us is, "How likely is it to lead to one option or another." We need to think of all possible outcomes, and the rough probability of each one occurring. There is a problem with this. We are not great at assessing probability. But… » 3/06/14 8:00am 3/06/14 8:00am