I’ve invested too much to back out now. Is this thought a mistake, or not? Costs Every action incurs a cost. The cost is whatever you lose by taking the action. In some cases a cost can be recovered, and in other cases a cost is unrecoverable or sunk. In economics it’s said that there’s…
Tag: reasoning
Beware the last word
I recently saw an edited clip on YouTube in which a person said something that was false but very funny in response to a question. In the comments, someone said that the person in the video didn’t respond to the question that way, and that the clip was just edited to make it seem that…
Probability estimation vs probability calculation
If I take the bus downtown today, what are the chances I’ll run into my friend (let’s call her Alice)? Suppose I’m on the bus for an hour. According to the local metro, there are approximately 31 people using a single bus per hour of operation. Assume that during the hour I’m on the bus…
thoughts on mind 