Lotteries, clustering, probability and herd-thinking

Posted by on Mar 25, 2013 in behaviour change, Behavioural Economics, Copying, culture, Economist, I'll have what she's having, Illusion of I, influence, Social Influence, Social Learning, super social ape, team game | No Comments

Nice piece in this week's Economist on Britain's love affair with gambling and lotteries in particular (HT @lauradavies24) Lovely descriptions of how – in the face of systematic randomness (yes, past performance has no impact on future performance) we twist ourselves inside out to make choice easier – we use shorthands to pick winners (including […]

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