Lando's Rule

Lando's Rule, often referenced in the context of likelihood estimation, suggests that when making predictions or decisions, people should consider not just the information available but also how that information relates to their existing beliefs. Specifically, it advises that the likelihood of an event happening is influenced by the prior beliefs one holds. Essentially, it's a reminder that our prior experiences and biases shape how we interpret new information and make choices, emphasizing the need to be aware of these influences to improve decision-making.