Risk Savvy: How to Make Good Decisions

Risk Savvy: How to Make Good Decisions

by Gerd Gigerenzer

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Gigerenzer argues that most people are not irrational but risk-illiterate, and that simple rules of thumb plus clear statistics (natural frequencies, not conditional probabilities) can make doctors, investors, and citizens dramatically better decision-makers. He pushes back on the prevailing biases-and-nudges view, championing fast-and-frugal heuristics as the real engine of smart choice under uncertainty.

Published:
Pages:
336
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In the Conversation

In this collection, Risk Savvy: How to Make Good Decisions references 4 other books.

It draws on Thinking, Fast and Slow, Nudge and The Black Swan.

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What This Book Draws On

4

The books Gigerenzer references and why each one mattered to the argument.

Engages critically with Kahneman's Thinking, Fast and Slow, disputing the heuristics-and-biases framing and arguing that simple heuristics are rational under uncertainty

Thinking, Fast and Slow

References

Thinking, Fast and Slow

by Daniel Kahneman

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Contests Thaler and Sunstein's Nudge paternalism, advocating risk literacy and transparent statistics as an alternative to choice architecture

Nudge

References

Nudge

by Richard Thaler

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Cites Taleb's The Black Swan on unknown unknowns to distinguish risk (known probabilities) from genuine uncertainty where heuristics outperform

The Black Swan

References

The Black Swan

by Nassim Nicholas Taleb

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References Ariely's Predictably Irrational when disputing the blanket claim that humans are systematically irrational about risk

Predictably Irrational

References

Predictably Irrational

by Dan Ariely

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