Michael Lewis on 'The Undoing Project'

The video discusses how memory influences decision-making, often leading to distorted judgments. It highlights how vivid memories can skew our perception of probabilities, using examples like driving behavior after witnessing an accident. The discussion extends to historical misjudgments, such as those during World War II, and the challenges of predicting future crises. The key takeaway is that past experiences can mislead us in anticipating future events, emphasizing the need for critical thinking.

In what way does the text suggest that past experiences influence future predictions?

What does the text imply about the likelihood of future financial crises based on past events?