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If all this seems obvious, that just means you have not been trained as an economist.Knowing that people get risks wrong has broad implications for public policy.
Sometimes you get the risks wrong".
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People tend to get risk wrong in a variety of ways, often consistently.
Sometimes we get risk wrong.
The Availability Heuristic is one of many reasons why we sometimes get risk wrong.
Shouldn't realizing why our feelings sometimes cause us to get risk wrong, be a good first step toward improving our ability to read risk right?
All the DVT risk wrong estimates in the low risk group were rated as "moderate" and in the moderate risk group as "low risk".
Anytime a teacher "fishes" for a right answer, the responder risks being "wrong".
The low number of randomised participants in this small-scale trial increases the risks of wrong results due to type I errors, and type II errors 48 49 and our adequate trial methodology cannot necessarily compensate for these increased risks.
You can risk being wrong in one direction, or you can risk being wrong in the other.
We risk robbing "wrong" of its bite.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com