The Fallacies of Our Mind – IV
March 19, 2018
‘Mythbusters’ is a popular Australian-American TV show which, for 16 seasons, investigated various myths or science-defying scenes from TV shows, movies, or from around the world. Ultimately their findings were labelled as ‘Confirmed’, ‘Plausible’ or ‘Busted’. On similar lines, under the ‘Fallacies of Our Mind’ series, we have been investigating heuristics that are hard-coded in our minds. In the current chapter of this series, we test a long-lasting convention – Buy Cheap, Avoid Expensive.