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Subscribe | Advertise Imagine this… That review hits every note you love: unpredictable twists, late-night page-turning, and comparisons to one of your all-time favorite books. 🧠 The Psychology of Base Rate Fallacy In a classic study, participants were told about a city with two cab companies: one has only blue cabs (representing 85% of all city cabs) and one has only green cabs (representing the remaining 15%). We may latch onto situation-specific details because they seem more relevant than the broader statistical likelihood. The more specific the detail, the more we pay attention. Alright, so how can you apply this right now to sell more? E-commerce Instead, you’re confident that satisfaction is the norm with Native, not the exception. In reality, you’ll probably go years without filing a claim. But those dramatic, story-based scenarios burn into your brain and do something broad statistics can't: They get you to act. So you get necessary coverage now instead of putting it off until it's too late. SaaS You don't stop to wonder what percentage of Canva users actually create billboard-worthy work, or how much design experience Kari had before she started. You assume stellar results like hers are typical, when in reality, most users are just tweaking templates. People tend to ignore base rates and focus on individuating information (specific details of a person, product, or situation) because it feels more relevant. With ❤️ from Katelyn and Jordyn |
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