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Base Rate Fallacy.

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The base rate fallacy is a cognitive bias that leads people to underestimate the probability of an event occurring if they only have information about specific cases that are related to that event. For example, someone might estimate the probability of winning the lottery to be very low because they only know about the few … Read more

Chain Banking Definition.

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Chain banking is a system in which a group of banks are all owned by the same parent company. This can lead to a number of advantages, such as increased efficiency and economies of scale. It can also lead to some risks, such as a higher level of concentration in the banking sector. What are … Read more