Assumptions: Every thinker operates under certain assumptions, which are beliefs taken for granted.

14. Endowment Effect

physician John Snow identified a pattern in the spread of the disease, tracing it back to a contaminated water pump on Broad Street. His observation led to the birth of modern epidemiology.

18. Gambler’s Fallacy:

As the old adage goes, "correlation does not imply causation," and yet, it's a misconception that's easy to fall prey to in daily life.

3. Attentional Bias

When embarking on the journey of critical thinking, it's essential to arm yourself with diverse questioning techniques.

Elements of Thought At the core of the framework are the 'Elements of Thought', which serve as fundamental aspects that thinkers must consider when assessing a particular issue. Let's delve into each:

Recognizing these patterns, economists can anticipate potential financial crises and make recommendations for interventions.