Proper application of bayes theorem

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Give an example from your own experience where financial decision making was influenced (or biased) by one or more of the cognitive limitations and/or biases discussed in chapters 5, 6, and 7. Do you think that proper application of Bayes' Theorem would have helped you in this situation? Do you think that it is realistic for 'normal' people to apply Bayes' Theorem when they need to update their beliefs or preferences?

Reference no: EM133082525

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