Tuesday, March 25, 2014

The representative heuristic in one graph



Many have thrown around terms associated with behavioral biases. In fact, I would argue that these terms are tossed around with such a cavalier view that few know what is actually be said or discussed.  The behavioral bias discussions have hit a wall of imprecision in language.

The table above provides a nice solution graph of different ways to look at the representative bias. This was created by IHMC Cmap tools, but there was no author that I can attribute to its origin.  This graph does a good job of discussing the small sample problem, looking for similarity, the base rate fallacy, and other issues that are all associated with the broader issue of representativeness. This should provide clarity. 

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