#15: Base Rate Fallacy

Bias number 15 is known as the base rate fallacy. This is a cognitive bias that affects the way people integrate information.

Here’s how it works. When people are presented with general information, or base rate information, and specific information, as in information related to a particular situation, they tend to favour the specific information and ignore the base rate information. The optimal way to consider the pieces of information would be to integrate the two.

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