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Consider this: A bat and a ball together cost Rs 1,100. The bat costs Rs 1,000 more than the ball. How much does the ball cost? If your answer was Rs 100, that’s incorrect. The right answer is Rs 50.
Nobel Laureate and behavioural economist Daniel Kahneman cites this example in his book, Thinking Fast and Slow, to introduce the concept of the ‘fast mind’ (which provides intuitive answers without conscious deliberation), and the ‘slow mind’ (which is supposed to deliberate and endorse or reject the fast mind’s intuitive answers).
The fast mind’s immediate answers can be frequently wrong. The slow mind is lazy and prone to biases. Yet, with the right training, it can be tutored to amend the