In a recent article called "Gamblers, Scientists and the Mysterious Hot Hand” by George Johnson, he explains the Human thought on chances. The article explains two types of fallacies that effect humans’ way of thinking when it comes to chances. The two fallacies in the article were gamblers fallacy and hot hand fallacy, the gamblers fallacy is that after large amounts of bad luck there needs to be an equal amount of good to keep it balanced. The hot hand fallacy is that once the winning streak starts its keeps on going.
In another article on LiveScience by Natalie Wolchover, she dives into the reasons behind taking chances, the article explains the reasons why people take risks. The first reason people take risks it the thought of “Risk vs Reward,” the idea of how big the reward is to the amount of risk the person will have to take. The thought of a big reward with a lot risk seems like a good to some but other it may seem like a bad idea. The idea goes farther in depth on how a person may take more risks in one area like financial but they would avoid risk in other areas like sports.
The article also describes how Gender plays a role in the human thought process of taking risks. It revealed how men are more prone to take financial and recreational risks, while women were more likely to take social risks. Males also while take more risks while around females or a group of friends because they are trying to show off their boldness or strength.
The effects of chances effect every single human on this planet, every human takes chances every day, whether they be big chances like investing lifesaving into a company or to small ones like crossing a street, everyone is affected. Theses articles help explain the human thought process of taking risks and why a human might choose to risk something.
-Daderick
In another article on LiveScience by Natalie Wolchover, she dives into the reasons behind taking chances, the article explains the reasons why people take risks. The first reason people take risks it the thought of “Risk vs Reward,” the idea of how big the reward is to the amount of risk the person will have to take. The thought of a big reward with a lot risk seems like a good to some but other it may seem like a bad idea. The idea goes farther in depth on how a person may take more risks in one area like financial but they would avoid risk in other areas like sports.
The article also describes how Gender plays a role in the human thought process of taking risks. It revealed how men are more prone to take financial and recreational risks, while women were more likely to take social risks. Males also while take more risks while around females or a group of friends because they are trying to show off their boldness or strength.
The effects of chances effect every single human on this planet, every human takes chances every day, whether they be big chances like investing lifesaving into a company or to small ones like crossing a street, everyone is affected. Theses articles help explain the human thought process of taking risks and why a human might choose to risk something.
-Daderick