1. Occam’s Razor:
Occam Razor refers to a theory. The main idea of this theory is there is no need to waste excessive resources to research or judge something since fewer resources may also help to reach an ideal result (Sartre, 2003). In the management field, through applying Occam Razor theory, the company would learn to use the most efficient team instead of the team composed of the most employees. In the philosophy field, this theory means people should view the world in the most convenient and economic way. In practice, if there are two ways to explain something. People should adapt the more simple way. In time when people do not have the necessary condition to prove the truth of something, the Occam Razor would be applied. However, it is likely that the result gained through such a fallacy is not reliable.
It is not suggested to apply this fallacy in doing a research over a scientific topic. In the process of researching, people should try to collect as much evidence as possible to prove. The Occam Razor fallacy shall never takes the place of observation, logic and scientific method. In this way, it is almost …show more content…
In most of the time, base rate fallacy can be very effective since with this method people could get result of certain problem through the problem’s essence. However, sometimes, the base rate fallacy can lead to serious error since people may turn blind to the base rate. When people know nothing about how an incident takes place, they may make a quick judgment through the limited data