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Originally Posted by Robert Fischer
As usual, Thaskalos is on the money.
The Public and the Individual Player, are able to receive 'input(s)' from reality, and interpret it into a 'perception'.
Some of that perception is 'pre-conscious', and some of that interpretation is conscious and calculated.
Once we (the individual) have a perception, we attempt to act in a rational manner by making an optimal decision ('pass' or specific 'wager' strategy).
1 receive inputs
2 interpret pre-consciously
3 interpret consciously or calculate
4 act rationally (perform optimally)
Reciprocity (Loses or Wins), Commitment (we took a stand about a horse or wager type), Social Proof (we like Arrogate in the Travers, but he's 11-1 and all the experts are talking about American Freedom being Baffert's top gun and the biggest threat to Exaggerator. Crowd is safer and probably correct), Authority (although I don't like Silver Ride, The Track Handicapper just eloquently explained why Unbridled Juan is a 'money burner'), Liking (California Chrome is my favorite horse in the world. Lava Man is gonna win one more), Scarcity (There's one more race on the card, or this is the Derby i gotta make a bet, or I'm down to my last $20 in the account...)
just some examples of "traps" that can trigger cognitive bias
Once you start falling into "traps" that pre-conscious interpreting and that post conscious calculation lead to illusion, and that post perception rational behavior goes haywire.
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Eloquent post JK, but let's just call it what it is.......a lazy addiction sickness commentary. There are NO traps if you do your OWN work, and for anyone's own sanity, don't listen to any public handicappers and use the mute button non-stop until you need a new remote......How does anyone spend their whole life working in whatever profession, to earn money, then just throw that hard earned money up in the wind of fate/luck/touts when betting the races?........Boggles the mind, doesn't it? Just go play the lotto if you can't do the work, you don't deserve to win.
