The Mystery of Chance: With Guests Andy Marocco & Tom Gilovich

Have you ever seen a cloud overhead that looks quite like, say, a rabbit? Or possibly you've found a potato chip that had an uncanny similarity to Elvis, or a cornflake that was nearly exactly the shape of the state of Texas. What are the possibilities?

In this episode of Choiceology with Katy Milkman (), we explore curious events and strange patterns in order to expose the human practice of ascribing indicating to randomness.

Andy Marocco of the Naval Air Station Fort Lauderdale Museum () signs up with Katy to revisit a few of the most popular and enduring unsolved air and naval mysteries that have actually happened inside the "treacherous" Bermuda Triangle. You'll find out about several popular disappearances, with a concentrate on the traumatic tale of Flight 19 in which numerous airplanes and airmen disappeared without a trace.

Next, we carry out a simple experiment– or is it a magic technique?– including a series of coin tosses. Our game master will try to determine a truly random list from a stack of imposter lists, utilizing absolutely nothing but mental prowess. (If you're still skeptical about how "bumpy" randomness is, just see the number of possible outcomes of 4 coin turns consist of either three heads or three tails in a row: HHHH, HHHT, HHTH, HHTT, HTHH, HTHT, HTTH, HTTT, THHH, THHT, THTH, THTT, TTHH, TTHT, TTTH, TTTT.).

Then we hear from Cornell University () psychology professor Tom Gilovich () about randomness as it refers to iPods, jellybeans, deals with, and canals on Mars.

Finally, Katy Milkman provides suggestions on how standard analytical analysis can assist you make better decisions.

Choiceology is an original podcast from Charles (). For more on the series, see .com/podcast ().

If you delight in the show, please leave a ⭐ ⭐ ⭐ ⭐ ⭐ rating or evaluation on Apple Podcasts ().

Important Disclosures:.

All expressions of opinion go through change without notice in reaction to shifting market conditions.

The remarks, views, and viewpoints expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.

Data contained herein from third-party companies is obtained from what are thought about reputable sources. Nevertheless, its accuracy, efficiency or dependability can not be ensured.

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The Mystery of Chance: With Guests Andy Marocco & Tom Gilovich

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