Saturday, November 28, 2015
Close only counts in...................
.................................................horse shoes and hand grenades. Or, why we spend $100 at the carnival to win a $10 stuffed animal:
"We want and place value on something when we almost have it and lose it. Charlie Munger says, 'One reason why horse races, bingo and these things have always been so popular is because of all the near misses.' Frequent near nisses are like small reinforcements and make us want to try again and again.
-Peter Bevelin, Seeking Wisdom: From Darwin To Munger
Labels:
Decisions,
Human Nature,
Psychology,
Quotes,
Risk
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