We often fixate on stereotypes to judge probabilities or odds and make huge estimation errors. This happens not only with lay people but also with experts. Revising odds when new information arrives is even more complicated. What is the way around it? Professors Bhagwan Chowdhry and Deepa Mani show you how to use paper and pencil and do simple calculations. It matters. Sometimes, it matters a lot.

#ISBfaculty #ISBstudios #AtriumTalks Music Authors: Song Pastime Paradise, Artist Ray Barretto, Writers Stevie Wonder.