1. Be a Bias Detective
Understanding Cognitive Biases
2. Points to be discussed...
● What is Cognitive Bias?
● The Discovery
● Status Quo Bias
● Stereotype Bias
● Confirmation Bias
● Halo Effect
● Recency Bias
● Take aways
3. What is Cognitive Bias?
Cognitive biases are tendencies
to think in certain ways that can
lead to systematic deviations
from a standard of rationality or
good judgment, and are often
studied in psychology and
behavioral economics.
There are unique 178 types of
Cognitive Biases.
4. The Discovery (in 1972)
Amos Tversky Daniel Kahneman
(1937 - 1996) (1934)
5. Status Quo bias
A preference for decisions that
maintain the current state of affairs
(status quo). Those affected by this
bias choose not to divert from
established behaviour unless there is
compelling incentive to change.
6. Stereotype bias
The unconscious attribution of
particular qualities to a member of a
certain social group. Those affected
by this bias subscribe easily to widely
held but fixed and oversimplified
image or idea of a particular type of
person or thing.
7. Confirmation
bias
The tendency to search for, interpret,
favor, and recall information in a way
that confirms one's preexisting beliefs
or hypotheses. Those affected by this
bias actively seek out and assign more
weight to evidence and information that
confirms their hypothesis, and ignore or
underweight evidence that could refute
their hypothesis.
8. Halo Effect
The tendency for a person's positive
or negative traits to "spill over" from
one personality area to another in
others' perceptions of them.
When an observer's overall impression
of a person, company, brand, or
product influences the observer's
feelings and thoughts about that
entity’s character or properties. Those
affected by this bias will have a
positive predisposition towards
everything about a person or object if
they like one aspect of it.
9. Recency Effect
A tendency to remember most
recently presented items or
experiences best. Those affected by
this bias pay more attention to
experiences in recent memory than
experiences gathered over a longer
period of time.
