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What is a Conjunction Fallacy?

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The conjunction fallacy is falsely assuming that specific information is more likely than general information. It is a common cognitive tendency. For example:
---
Eric has a career related to finance and he intensely dislikes new technology. He longs for the old days when things were done with paper and relationships were more important. Which of the following statements is most likely?
A. Eric is a banker
B. Eric is a senior banker
C. Eric is a senior banker who owns a smart phone but rarely uses it
---
Some people may be inclined to chose options B and C because they are collaborated by details of the story. However, option A is more probable because it is the most general.
Overview: Conjunction Fallacy
Type
Fallacy
Definition
Falsely assuming that specific information is more likely than general information.
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