The Undoing Project: A Friendship That Changed Our Minds

You dont believe it but our minds our wired in certain ways…we need to recognise this and try to mitigate

For the same situation:

People will take a sure thing vs a risk for more if they see a potential gain

They will take a risk against a sure thing for a smaller loss if they see a potential loss

Also

Given two options where one option 'feels' more likely than another but is actually a subset of another then people will instinctively choose the former - the Linda problem

https://en.m.wikipedia.org/wiki/Conjunction_fallacy