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  5. An investment said to have an 80% chance of success sounds...

An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.

Daniel Kahneman
Mind, Sound, Chance
An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.