Mental models are used as frameworks and filters and a way to think about the world and make the right decisions based on principles. Mental models are not always correct but they can raise your probability of having success with how you think and the decisions you make based on robust principles. Jeff Bezos used a regret minimization model for this decision to walk away from a great job and start an online bookstore in 1994 that he would name Cadabra and later change it to Amazon. After agonizing about whether he should take the risk and make the leap as an entrepreneur he used a simple heuristic to finally go for ... (full story)