Science
Why we distort probability: Scientists identify the cognitive limitations that hamper our decision-making – Science Daily
A team of scientists has concluded that our cognitive limitations lead to probability distortions and to subsequent errors in decision-making.
The chances of a commercial airliner crashing are vanishingly small — and yet many people are uncomfortable flying. Vaccination for many common childhood diseases entail almost no risk — but parents still worry. Human perception of probabilities — especially very small and very large probabilities — can be markedly distorted and these distortions can lead to potentially disastrous decisions.But why we distort probability is unclear. While the question has been previously studied, there is no…
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