Notes on software and processes for collecting, analyzing and acting on data

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Working Notes : Anecdotal evidence

Studies of decision making have shown that people are strongly influenced by single, uncommon events. Even when the pattern of frequent events indicates one type of behavior, the uncommon event prevails. This is especially true of bad outcomes, like plane crashes, but is also true of good outcomes, like gambling wins.

I've been interested recently in which the only option is using sparsely occurring events to make decisions.

Copyright 2003 by James J. Vornov