We need statistical thinking for a world where we can calculate the risk, but in a world of uncertainty, we need more. We need rules of thumb called heuristics, and good intuitions. That distinction is not made in most of economics and most of the other cognitive sciences, and people believe that they can model or reduce all uncertainty to risk.
Content: Quotation
Author: Gerd Gigerenzer
Source: “Harvard Business Review”
Subject: Risk Management
Author: Gerd Gigerenzer
Source: “Harvard Business Review”
Subject: Risk Management
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