That is called a fallacy of composition, where rational actions at an individual level become dangerous and destructive in ...

With the constant stream of data about COVID-19, it can be hard to make sense of all the numbers. We look at the base rate fallacy, and how some people are making this mistake when assessing risk.

The fallacy is that we are surprised when things that are supposed to vary a lot, come down one way a number of times. We feel the next case must break the pattern. In reality, there is no pattern.

One of the pillars of American mythology is the “bootstrap” theory of self-improvement and personal progress. In this thinking, the individuals pull themselves up to a better station in life by their ...

Ali Hussain has a background that consists of a career in finance with large financial institutions and in journalism covering business. Vikki Velasquez is a researcher and writer who has managed, ...

Opinions expressed by Entrepreneur contributors are their own. What do governments, businesses and individuals have in common? They’ve all invested time and money in forecasting how long a project ...

“After the U.S. experience during the Great Depression, and after inflation and rising interest rates in the 1970s and disinflation and falling interest rates in the 1980s, I thought the fallacy of ...

Forbes contributors publish independent expert analyses and insights. Bryce Hoffman writes about leadership, strategy, and decision making. The gambler’s fallacy is ...