You're not so smart - Cognitive BiasesOdair Faléco
We think we are smart, but understanding Cognitive Biases shows how limited is our perception of reality and information around us.
On this presentation I expalin and bring some real examples of the most commom biases used in the market, web and UX.
There are many kinds of cognitive biases that influence individuals differently, but their common characteristic is that they lead to judgment and decision-making that deviates from rational objectivity.
While making judgments and decisions about the world around us, we like to think that we are Objective,Logical, and
Capable of taking in and evaluating all the information that is available to us.
The reality is that our judgments and decisions are often
riddled with errors and influenced by a wide variety of biases.
The human brain is both remarkable and powerful, but certainly subject to limitations.
One type of fundamental limitation on human thinking is known as a cognitive bias.
Important concepts around how we all make decisions. This presentation introduces the work of Nobel prize winner Daniel Kahneman on Cognitive Biases, and helps you understand why we make errors in judgement, and how to look for signs you're about make one.
What is the Nudge Theory?
A mixure of beavourial economics, psychology, political theory, marketing and sales. Its the theory that considers how people make decisions – and how others impact them.
You're not so smart - Cognitive BiasesOdair Faléco
We think we are smart, but understanding Cognitive Biases shows how limited is our perception of reality and information around us.
On this presentation I expalin and bring some real examples of the most commom biases used in the market, web and UX.
There are many kinds of cognitive biases that influence individuals differently, but their common characteristic is that they lead to judgment and decision-making that deviates from rational objectivity.
While making judgments and decisions about the world around us, we like to think that we are Objective,Logical, and
Capable of taking in and evaluating all the information that is available to us.
The reality is that our judgments and decisions are often
riddled with errors and influenced by a wide variety of biases.
The human brain is both remarkable and powerful, but certainly subject to limitations.
One type of fundamental limitation on human thinking is known as a cognitive bias.
Important concepts around how we all make decisions. This presentation introduces the work of Nobel prize winner Daniel Kahneman on Cognitive Biases, and helps you understand why we make errors in judgement, and how to look for signs you're about make one.
What is the Nudge Theory?
A mixure of beavourial economics, psychology, political theory, marketing and sales. Its the theory that considers how people make decisions – and how others impact them.
I've discussed the various ways our brain makes illogical judgments and then makes errors in thinking. I've also discussed the difference between logical thought and how the brain thinks automatically. There is some content on logic as seen in animals too.
Here is a special post I've made about the Survivorship bias
https://cognitiontoday.com/what-you-need-to-know-about-success-stories-survivorship-bias/
Here is one on overcoming thinking biases
https://cognitiontoday.com/8-powerful-ways-to-overcome-thinking-errors-and-cognitive-biases/
Here is one on a few more cognitive biases
https://cognitiontoday.com/4-cognitive-biases-you-should-be-aware/
Presented at CodeMash 2015. By Joseph Ours
Joseph's presentation is based on the book "Thinking Fast and Slow" where Nobel Prize winner Daniel Kahneman introduces two mental systems, one that is fast and the other slow. Together they shape our impressions of the world around us and help us make choices. System 1 is largely unconscious and makes snap judgments based upon memories of similar events and our emotions. System 2 is painfully slow, and is the process by which we consciously check the facts and think carefully and rationally. System 2 is easily distracted. System 1 is wrong quite often. Real-world examples that demonstrate how the two systems work are that pro golfers will more accurately putt for par than they do for birdie regardless of distance and people will buy more cans of soup when there is a sign on the display that says “limit 12 per customer."
A brief and general account of selected potential cognitive biases in drug discovery and development, along with some suggestions on how to avoid them.
People make many decisions. In decision-making scenarios people use rules of thumb (heuristics) to assist in decision-making. Often the heuristics lead to decisions contrary to the desired outcomes. This presentation outlines a set of cognitive biases common in decision making and how to prevent the biases or mitigate the consequences.
As thinking human beings and team leaders or architects we can benefit from knowing more about how we think, deliberate and decide. Most teams rely on trust, transparency, collaboration, and collective decision-making. “Thinking, Fast and Slow,” by Daniel Kahneman explains two systems that drive how we think. System 1 thinking is fast, intuitive, and emotional; System 2 is slow, deliberate, and logical.
In this presentation you learn how fast and slow thinking affects your reactions, behaviors, and decision-making. You’ll explore how several common development practices (with an emphasis on some agile practices), can amplify and exploit your thinking abilities and where they might lead you astray.
Fast thinking works pretty well in a well-known context. You save time when you don’t have to deliberate over details and nuances in order to make informed decisions. But fast thinking can lead to extremely poor decisions. You might jump to conclusions, be wildly optimistic, or greatly under-assess risks and rewards. You need to exploit both fast and slow thinking and be acutely aware of when fast thinking is tripping you up.
Here are Dan Ariely’s Predictably Irrational slides from his presentation at the World Innovation Forum about how people make decisions and a bit about their motivations
I've discussed the various ways our brain makes illogical judgments and then makes errors in thinking. I've also discussed the difference between logical thought and how the brain thinks automatically. There is some content on logic as seen in animals too.
Here is a special post I've made about the Survivorship bias
https://cognitiontoday.com/what-you-need-to-know-about-success-stories-survivorship-bias/
Here is one on overcoming thinking biases
https://cognitiontoday.com/8-powerful-ways-to-overcome-thinking-errors-and-cognitive-biases/
Here is one on a few more cognitive biases
https://cognitiontoday.com/4-cognitive-biases-you-should-be-aware/
Presented at CodeMash 2015. By Joseph Ours
Joseph's presentation is based on the book "Thinking Fast and Slow" where Nobel Prize winner Daniel Kahneman introduces two mental systems, one that is fast and the other slow. Together they shape our impressions of the world around us and help us make choices. System 1 is largely unconscious and makes snap judgments based upon memories of similar events and our emotions. System 2 is painfully slow, and is the process by which we consciously check the facts and think carefully and rationally. System 2 is easily distracted. System 1 is wrong quite often. Real-world examples that demonstrate how the two systems work are that pro golfers will more accurately putt for par than they do for birdie regardless of distance and people will buy more cans of soup when there is a sign on the display that says “limit 12 per customer."
A brief and general account of selected potential cognitive biases in drug discovery and development, along with some suggestions on how to avoid them.
People make many decisions. In decision-making scenarios people use rules of thumb (heuristics) to assist in decision-making. Often the heuristics lead to decisions contrary to the desired outcomes. This presentation outlines a set of cognitive biases common in decision making and how to prevent the biases or mitigate the consequences.
As thinking human beings and team leaders or architects we can benefit from knowing more about how we think, deliberate and decide. Most teams rely on trust, transparency, collaboration, and collective decision-making. “Thinking, Fast and Slow,” by Daniel Kahneman explains two systems that drive how we think. System 1 thinking is fast, intuitive, and emotional; System 2 is slow, deliberate, and logical.
In this presentation you learn how fast and slow thinking affects your reactions, behaviors, and decision-making. You’ll explore how several common development practices (with an emphasis on some agile practices), can amplify and exploit your thinking abilities and where they might lead you astray.
Fast thinking works pretty well in a well-known context. You save time when you don’t have to deliberate over details and nuances in order to make informed decisions. But fast thinking can lead to extremely poor decisions. You might jump to conclusions, be wildly optimistic, or greatly under-assess risks and rewards. You need to exploit both fast and slow thinking and be acutely aware of when fast thinking is tripping you up.
Here are Dan Ariely’s Predictably Irrational slides from his presentation at the World Innovation Forum about how people make decisions and a bit about their motivations
The human brain is capable of 1016 processes per second, which makes it far more powerful than any computer currently in existence. But that doesn't mean our brains don't have major limitations.
The lowly calculator can do math thousands of times better than we can, and our memories are often less than useless —plus,
we're subject to cognitive biases, those annoying glitches in our thinking that cause us to make questionable decisions and reach erroneous conclusions.
Here are a dozen of the most common and pernicious cognitive biases that you need to know about.
This paper examines professional investors can apply the principles within and around Behavioural Finance to maximise investment skill and minimise any negative impact of behavioural bias.
Persuasion architectures: Nudging People to do the Right ThingUser Vision
Review of some of the most popular commercial and public sector persuasion methodologies. Plus some reasons why they may not work and some criticisms, and a comparison of how supermarkets persuade us, offline.
In business, how often do you hear about the need for engagement, ownership, autonomy, empowerment, culture and change ... but fail to hear any details about 'how' to improve them?
Duxinaroe are delighted to share an aide memoir we provide as an extension to our leadership, Lean and H&S training and consulting activities.
This short, simple and incisive tool will add value when considered and used as presented. Additionally, once understood with more depth, it can become a powerful transformation tool, enabling Culture change and dramatically increasing your organisations potential to improve performance sustainably.
Cognitive distortions - Depression and anxiety.Koduvayur Anand
A cognitive distortion is an exaggerated or irrational thought pattern involved in the onset and perpetuation of psychopathological states, especially those more influenced by psychosocial factors, such as depression and anxiety.
In this slideshow some most important cognitive distortions are discussed
You can see the video of this in the following link.
Learn CBT Lesson #8 – Cognitive Distortions
https://youtu.be/zK8cLoYtwGY
Illusory superiority dates back to Confucius and Socrates
But Dunning-Kruger Effect (A type of Cognitive Bias)discussion is merely 20 years old
A cognitive bias refers to a ‘systematic error’ in the thinking process.
Such biases are often connected to a heuristic (a mental shortcut )
Heuristics allow one to make an inference without extensive deliberation and/or reflective judgment
These are essentially schemas for solutions (West, Toplak, & Stanovich, 2008).
12 common biases that affect how we make everyday decisions are discussed.
New knowledge economy (Dwyer, 2017; Dwyer, Hogan & Stewart, 2014) has opened a new vista of processing information (right or wrong) with the help of internet quickly and effortlessly.
What Is Cognitive Behavioral TherapyCognitive behavioral thlorileemcclatchie
What Is Cognitive Behavioral Therapy?
Cognitive behavioral therapy (CBT) is a form of psychological treatment that has been demonstrated to be effective for a range of problems including depression, anxiety disorders, alcohol and drug use problems, marital problems, eating disorders and severe mental illness. Numerous research studies suggest that CBT leads to significant improvement in functioning and quality of life. In many studies, CBT has been demonstrated to be as effective as, or more effective than, other forms of
psychological
therapy or psychiatric medications.
It is important to emphasize that advances in CBT have been made on the basis of both research and clinical practice. Indeed, CBT is an approach for which there is ample scientific evidence that the methods that have been developed actually produce change. In this manner, CBT differs from many other forms of psychological treatment.
CBT is based on several core principles, including:
1. Psychological problems are based, in part, on faulty or unhelpful ways of thinking.
2. Psychological problems are based, in part, on learned patterns of unhelpful behavior.
3. People suffering from psychological problems can learn better ways of coping with them, thereby relieving their symptoms and becoming more effective in their lives.
CBT treatment usually involves
efforts
to change thinking patterns. These strategies might include:
o Learning to recognize one's distortions in thinking that are creating problems, and then to reevaluate them in light of reality.
o Gaining a better understanding of the behavior and motivation of others.
o Using problem-solving skills to cope with difficult situations.
Many of the most popular and effective cognitive behavioral therapy techniques are applied to what psychologist call cognitive distortion, inaccurate thoughts that reinforce negative thought patterns or emotions. (Grohol,2016)
There are 15 main cognitive distortions that can plague even most balanced thinkers.
1. Filtering refers to the way a person can ignore all the positive and good things in life to focus solely on the negative. It’s the trap of dwelling on a single negative aspect of a situation, even when surrounded by an abundance of good thinks.
2. Polarize thinking/Black-and-white thinking This cognitive distortion is all-or-nothing, never shades of gray. If you don’t perform perfectly in some area, then your may see yourself as a total failure instead of simply recognizing that you may be unskilled in one area.
3. Overgeneralization is thinking a single incident or point in time and using it as the sole piece of evidence for a broad conclusion.
4. Jumping to conclusions. Like overgeneralization, this distortion involves faulty reasoning in how one makes conclusions. Unlike overgeneralizing one incident, jumping to conclusions refers to the tendency to be sure of something without any evidence at all.
For example, we ...
Why people don't think rationally, Five types of Psychological BiasesBabu Appat
Decision making is an art. Dexterous decision making requires polished skills. Psychological Bias are the common problem makers, which prevents effective decision making. Let us examine what are the common psychological biases and how to overcome these problem makers. Better decisions are required for business success and better life.
This lecture is part of a business law course focused on ethics and leadership. This is the student's first introduction to implicit bias and heuristics.
Masterclass "How to boost user engagement", CAP Innove, Avril 2018. Le parcours du joueur-utilisateur, les 8 typologies de joueurs, les leviers du jeu qui créent l'engagement.
On the invitation of Belgian Minister of Foreign Affairs, Didier Reynders, conference to the Belgian diplomats in order to draw the challenges that they are facing against the emergence of Big Data, Artificial Intelligence, GAFA and BATX...
Gamification in marketing and management - MMCom Solvay Business School Vietn...Dominique Mangiatordi
Gamification course for Solvay Business School in Ho Chi Minh. It describes the 8 players profiles, the player's journey, the 8 levers and some specific gaming techniques. #gamification
Paid, Owned and Earned media - how to build a P.O.E.M. strategy - starting with your Brand strategy. Slides of a course given for Solvay Business School in Ho Chi Minh, Vietnam.
Présentation de 10 éléments-clés à intégrer dans toute stratégie e-business aujourd'hui : web 3.0, géomarketing, gamification, performance marketing, SEO, SEA, ...Brussels Business Club, 29 novembre 2011
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
Learn how to use Binance Savings to expand your bitcoin holdings. Discover how to maximize your earnings on one of the most reliable cryptocurrency exchange platforms, as well as how to earn interest on your cryptocurrency holdings and the various savings choices available.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
6. There are more than
175 cognitive bias
that are affecting our
decisions and own thinking.
7.
8. 4 problems that biases
help us address
Information overload Lack of meaning
Need to act fast
What needs to be
remembered for later?
9. 1
OVERLOAD
We don’t see everything. Some of the
information we filter out is actually
useful and important.
10. 2
MEANING
Our search for meaning can conjure
illusions. We sometimes imagine
details that were filled in by our
assumptions, and construct meaning
and stories that aren’t really there.
11. 3
ACT FAST
Quick decisions can be seriously
flawed. Some of the quick reactions
and decisions we jump to are unfair,
self-serving, and counter-productive.
12. 4
WHAT TO REMEMBER?
Our memory reinforces errors. Some of
the stuff we remember for later just
makes all of the above systems more
biased, and more damaging to our
thought processes.
15. PROBLEM #1 information overload
THERE’s TOO MUCH INFORMATION!
There is just too much information in the world, we have
no choice but to filter almost all of it out. Our brain uses
a few simple tricks to pick out the bits of information
that are most likely going to be useful in some way.
16. We notice things that are already primed in memory
or repeated often. This is the simple rule that our brains
are more likely to notice things that are related to stuff
that’s recently been loaded in memory.
See: Availability heuristic, Attentional bias, Illusory truth effect, Mere
exposure effect, Context effect, Cue-dependent forgetting, Mood-
congruent memory bias, Frequency illusion, Baader-Meinhof
Phenomenon, Empathy gap, Omission bias, Base rate fallacy
17. COGNITIVE BIA #001
AVAILABILITY HEURISTIC
The availability heuristic is a mental shortcut
that relies on immediate examples that come
to a given person's mind when evaluating a
specific topic, concept, method or decision.
18. If something can be recalled,
it must be important.
Or at least more important than alternative solutions
which are not as readily recalled. Subsequently, under
the availability heuristic, people tend to heavily weigh
their judgments toward more recent information,
making new opinions biased toward that latest news
19. COGNITIVE BIA #002
BAADER MEINHOFF EFFECT
People who just learn or notice something
start seeing it everywhere. For instance, a
person who just saw a movie about sharks
might start seeing the word "shark"
everywhere.
20. COGNITIVE BIA #003
EMPATHY GAP
A hot-cold empathy gap is a cognitive bias in
which people underestimate the influences of
visceral drives on their own attitudes,
preferences, and behaviors.
21. COGNITIVE BIA #003
EMPATHY GAP
Hot-to-cold: People under the influence of visceral factors (hot state)
don't fully grasp how much their behavior and preferences are being
driven by their current state; they think instead that these short-term
goals reflect their general and long-term preferences.
Cold-to-hot: People in a cold state have difficulty picturing
themselves in hot states, minimizing the motivational strength of
visceral impulses. This leads to unpreparedness when visceral forces
inevitably arise.
22. Bizarre/funny/visually-striking/
anthropomorphic things stick out more
than non-bizarre/unfunny things.
Our brains tend to boost the importance of things that
are unusual or surprising. Alternatively, we tend to skip
over information that we think is ordinary or expected.
See: Bizarreness effect, Humor effect, Von Restorff effect, Picture
superiority effect, Self-relevance effect, Negativity bias
23. COGNITIVE BIA #004
BIZARRENESS EFFECT
Bizarreness effect is the tendency of bizarre
material to be better remembered than
common material.
24. COGNITIVE BIA #005
VON RESTORFF EFFECT
also known as the "isolation effect", predicts that
when multiple homogeneous stimuli are presented,
the stimulus that differs from the rest is more likely
to be remembered.
25. We notice when something has changed.
And we’ll generally tend to weigh the significance of the
new value by the direction the change happened
(positive or negative) more than re-evaluating the new
value as if it had been presented alone. Also applies to
when we compare two similar things.
See: Anchoring, Contrast effect, Focusing effect, Money illusion,
Framing effect, Weber–Fechner law, Conservatism, Distinction bias
26. COGNITIVE BIA #006
PRICE ILLUSION
In economics, money illusion, or price illusion,
is the tendency of people to think of currency
in nominal, rather than real, terms. In other
words, the numerical/face value (nominal
value) of money is mistaken for its purchasing
power (real value) at a previous point in the
general price level (in the past).
27. COGNITIVE BIA #007
FRAMING EFFECT
AND DECOY EFFECT
People react to a particular choice in different
ways depending on how it is presented; e.g.
as a loss or as a gain.
28.
29. We are drawn to details
that confirm our own existing beliefs.
This is a big one. As is the corollary: we tend to
ignore details that contradicts our own beliefs.
See: Confirmation bias, Congruence bias, Post-purchase rationalization, Choice-
supportive bias, Selective perception, Observer-expectancy effect, Experimenter’s
bias, Observer effect, Expectation bias, Ostrich effect, Subjective validation,
Continued influence effect, Semmelweis reflex
31. If a person chooses option A instead of
option B, they are likely to ignore or
downplay the faults of option A while
amplifying those of option B. Conversely,
they are also likely to notice and amplify the
advantages of option A and not notice or
de-emphasize those of option B.
32. COGNITIVE BIA #009
THE OSTRICH EFFECT
In behavioral finance, the ostrich effect is the attempt made by
investors to avoid negative financial information. The name
comes from the common (but false) legend that ostriches bury
their heads in the sand to avoid danger.
33. We notice flaws in others
more easily than flaws in ourselves.
Yes, before you see this entire article as a list of quirks
that compromise how other people think, realize that
you are also subject to these biases.
See: Bias blind spot, Naïve cynicism, Naïve realism
34. COGNITIVE BIA #010
NAÏVE CYNISM
When people naïvely expect more egocentric
bias in others than actually is the case.
35. COGNITIVE BIA #011
NAÏVE REALISM
Naïve realism is the human tendency to
believe that we see the world around us
objectively, and that people who disagree with
us must be uninformed, irrational, or biased.
36.
37. PROBLEM #2 lack of meaning
WHAT DOES THIS INFO MEAN?
The world is very confusing, and we end up only seeing
a tiny sliver of it, but we need to make some sense of it
in order to survive. Once the reduced stream of
information comes in, we connect the dots, fill in the
gaps with stuff we already think we know, and update
our mental models of the world.
38. We find stories and patterns even in sparse data.
Since we only get a tiny sliver of the world’s information,
and also filter out almost everything else, we never
have the luxury of having the full story. This is how
our brain reconstructs the world to feel complete inside
our heads.
See: Confabulation, Clustering illusion, Insensitivity to sample size, Neglect of
probability, Anecdotal fallacy, Illusion of validity, Masked man fallacy, Recency
illusion, Gambler’s fallacy, Hot-hand fallacy, Illusory correlation, Pareidolia,
Anthropomorphism
39. COGNITIVE BIA #012
ANTHROPOMORPHISM
The attribution of human
traits, emotions, or intentions
to non-human entities. It is
considered to be an innate
tendency of human
psychology.
40. COGNITIVE BIA #013
PAREIDOLIA
The mind responds to a
stimulus, usually an image or a
sound, by perceiving a familiar
pattern where none exists.
41.
42.
43. We fill in characteristics from stereotypes, generalities,
and prior histories whenever there are new specific instances
or gaps in information. When we have partial information
about a specific thing that belongs to a group of things we are
pretty familiar with, our brain has no problem filling in the
gaps with best guesses or what other trusted sources provide.
Conveniently, we then forget which parts were real and
which were filled in.
See: Group attribution error, Ultimate attribution error, Stereotyping, Essentialism, Functional
fixedness, Moral credential effect, Just-world hypothesis, Argument from fallacy, Authority bias,
Automation bias, Bandwagon effect, Placebo effect.
44. COGNITIVE BIA #014
GROUP ATTRIBUTION ERROR
The group attribution error refers to people's
tendency to believe either that the
characteristics of an individual group member
are reflective of the group as a whole.
45. COGNITIVE BIA #015
JUST-WORLD HYPOTHESIS
a person's actions are inherently inclined to
bring morally fair and fitting consequences to
that person, to the end of all noble actions
being eventually rewarded and all evil actions
eventually punished.
46. We imagine things and people we’re familiar
with or fond of as better than things and
people we aren’t familiar with or fond of.
Similar to the previous one but the filled-in bits
generally also include built in assumptions about the
quality and value of the thing we’re looking at.
See: Halo effect, In-group bias, Out-group homogeneity bias, Cross-race effect, Cheerleader effect,
Well-traveled road effect, Not invented here, Reactive devaluation, Positivity effect
47. COGNITIVE BIA #016
CROSS-RACE EFFECT
The tendency to more easily recognize faces
of the race that one is most familiar with
(which is most often one's own race).
A study was made which examined 271 real court cases. In
photographic line-ups, 231 witnesses participated in cross-race versus
same-race identification. In cross-race lineups, only 45% were correctly
identified versus 60% for same-race identifications.
48. COGNITIVE BIA #017
THE WELL TRAVELED ROUTE EFFECT
Travellers will estimate the time taken to traverse
routes differently depending on their familiarity with
the route. Frequently travelled routes are assessed as
taking a shorter time than unfamiliar routes.
This effect creates errors when estimating the most
efficient route to an unfamiliar destination, when one
candidate route includes a familiar route, whilst the
other candidate route includes no familiar routes.
49. We simplify probabilities and numbers to
make them easier to think about.
Our subconscious mind is terrible at math and generally
gets all kinds of things wrong about the likelihood of
something happening if any data is missing.
See: Mental accounting, Normalcy bias, Appeal to probability fallacy, Murphy’s Law, Subadditivity
effect, Survivorship bias, Zero sum bias, Denomination effect, Magic number 7+-2
50. COGNITIVE BIA #016
THE MAGIC NUMBER 7+2
(Miller’s Law)
The number of objects an average human can
hold in working memory is 7 ± 2.
51. COGNITIVE BIA #017
SURVIVORSHIP
Is the logical error of concentrating on the
people or things that made it past some
selection process and overlooking those that
did not, typically because of their lack of
visibility.
52. COGNITIVE BIA #017
SURVIVORSHIP
Whether it be movie stars, or athletes, or musicians, or CEOs of
multibillion-dollar corporations who dropped out of school,
popular media often tells the story of the determined individual
who pursues their dreams and beats the odds. There is much
less focus on the many people that may be similarly skilled and
determined but fail to ever find success because of factors
beyond their control or other (seemingly) random events. This
creates a false public perception that anyone can achieve great
things if they have the ability and make the effort. The
overwhelming majority of failures are not visible to the public
eye, and only those who survive the selective pressures of their
competitive environment are seen regularly.
53. We think we know what others are thinking.
In some cases this means that we assume that they
know what we know, in other cases we assume they’re
thinking about us as much as we are thinking about
ourselves. It’s basically just a case of us modeling their
own mind after our own (or in some cases after a much
less complicated mind than our own).
See: Curse of knowledge, Illusion of transparency, Spotlight effect, Illusion of external agency, Illusion
of asymmetric insight, Extrinsic incentive error
54. COGNITIVE BIA #018
THE SELF-AS-TARGET EFFECT
This concept describes when someone believes
that events are disproportionately directed
towards him or herself. For example, if a student
had an assignment due in class and did not
prepare as well as they should have, the student
may start to panic and think that simply because
they did not prepare well, the teacher will know
and call on them for answers.
55. We project our current mindset and
assumptions onto the past and future.
Magnified also by the fact that we’re not very good at
imagining how quickly or slowly things will happen or
change over time.
See: Hindsight bias, Outcome bias, Moral luck, Declinism, Telescoping effect, Rosy retrospection,
Impact bias, Pessimism bias, Planning fallacy, Time-saving bias, Pro-innovation bias, Projection bias,
Restraint bias, Self-consistency bias
56. PROBLEM #3
NEED TO ACT FAST
We’re constrained by time and information, and yet we can’t
let that paralyze us. Without the ability to act fast in the face
of uncertainty, we surely would have perished as a species
long ago. With every piece of new information, we need to
do our best to assess our ability to affect the situation, apply
it to decisions, simulate the future to predict what might
happen next, and otherwise act on our new insight.
57. In order to act, we need to be confident in
our ability to make an impact and to feel like
what we do is important.
In reality, most of this confidence can be classified as
overconfidence, but without it we might not act at all.
See: Overconfidence effect, Egocentric bias, Optimism bias, Social desirability bias, Third-person
effect, Forer effect, Barnum effect, Illusion of control, False consensus effect, Dunning-Kruger effect,
Hard-easy effect, Illusory superiority, Lake Wobegone effect, Self-serving bias, Actor-observer bias,
Fundamental attribution error, Defensive attribution hypothesis, Trait ascription bias, Effort
justification, Risk compensation, Peltzman effect
58. In order to stay focused, we favor the immediate,
relatable thing in front of us over the delayed and distant.
We value stuff more in the present than in the future,
and relate more to stories of specific individuals than
anonymous individuals or groups. I’m surprised there
aren’t more biases found under this one, considering
how much it impacts how we think about the world.
See: Hyperbolic discounting, Appeal to novelty, Identifiable victim effectjustification, Risk
compensation, Peltzman effect
59. In order to get anything done, we’re
motivated to complete things that we’ve
already invested time and energy in.
The behavioral economist’s version of Newton’s first law
of motion: an object in motion stays in motion. This
helps us finish things, even if we come across more and
more reasons to give up.
See: Sunk cost fallacy, Irrational escalation, Escalation of commitment, Loss aversion, IKEA effect,
Processing difficulty effect, Generation effect, Zero-risk bias, Disposition effect, Unit bias,
Pseudocertainty effect, Endowment effect, Backfire effect
60. In order to avoid mistakes, we’re motivated
to preserve our autonomy and status in a
group, and to avoid irreversible decisions.
If we must choose, we tend to choose the option that is
perceived as the least risky or that preserves the status
quo. Better the devil you know than the devil you do not.
See: System justification, Reactance, Reverse psychology, Decoy effect, Social comparison bias, Status quo bias
61. We favor options that appear simple or that
have more complete information over more
complex, ambiguous options.
We’d rather do the quick, simple thing than the important
complicated thing, even if the important complicated
thing is ultimately a better use of time and energy.
See: Ambiguity bias, Information bias, Belief bias, Rhyme as reason effect, Bike-shedding effect, Law
of Triviality, Delmore effect, Conjunction fallacy, Occam’s razor, Less-is-better effect
62. PROBLEM #3
WHAT SHOULD WE REMEMBER?
We need to make constant bets and trade-offs around what we try to
remember and what we forget. For example, we prefer generalizations
over specifics because they take up less space. When there are lots of
irreducible details, we pick out a few standout items to save and
discard the rest. What we save here is what is most likely to inform our
filters related to problem 1’s information overload, as well as inform
what comes to mind during the processes mentioned in problem 2
around filling in incomplete information. It’s all self-reinforcing.
63. We edit and reinforce
some memories after the fact.
During that process, memories can become stronger,
however various details can also get accidentally
swapped. We sometimes accidentally inject a detail into
the memory that wasn’t there before.
See: Misattribution of memory, Source confusion,
Cryptomnesia, False memory, Suggestibility, Spacing effect
64. We discard specifics to form generalities.
We do this out of necessity, but the impact of implicit
associations, stereotypes, and prejudice results in some
of the most glaringly bad consequences from our full
set of cognitive biases.
See: Implicit associations, Implicit stereotypes,
Stereotypical bias, Prejudice, Negativity bias, Fading affect bias
65. We reduce events and
lists to their key elements.
It’s difficult to reduce events and lists to generalities, so
instead we pick out a few items to represent the whole.
See: Peak–end rule, Leveling and sharpening, Misinformation effect, Duration neglect, Serial
recall effect, List-length effect, Modality effect, Memory inhibition, Part-list cueing effect, Primacy
effect, Recency effect, Serial position effect, Suffix effectStereotypical bias, Prejudice, Negativity
bias, Fading affect bias
66. We store memories differently
based on how they were experienced.
Our brains will only encode information that it deems important
at the time, but this decision can be affected by other
circumstances (what else is happening, how is the information
presenting itself, can we easily find the information again if we
need to, etc) that have little to do with the information’s value.
See: Levels of processing effect, Testing effect, Absent-mindedness, Next-in-line effect, Tip of
the tongue phenomenon, Google effect
69. 4 categories / 4 problems
COGNITIVE BIAS
Information overload
We delete key facts
Lack of meaning
We invent key facts
Need to act fast
We bypass key facts
What to remember
We change the facts
70. Tomorrow Wednesday
1. Present your Paid Media
options and choices
2. Gamification &
Engagement Design
Good night!
I’m starving! :)