• 🧠188 cognitive biases

    https://upload.wikimedia.org/wikipedia/commons/6/65/Cognitive_bias_codex_en.svg

  • 😥Prospect theory

    We gain massive jumps in pleasure or pain for minor gains and losses. But when the gain or loss increases past that point, we don’t gain as much emotional effect. Also: The emotional effect of losing one unit is larger than that of gaining one unit.

  • Barnum effect

    We easily fit our view of our personalities to vague or common traits. This allows others to describe vague aspects of our characters and for us to believe that they are describing us and us alone. They are usually statements that fall into these 3 categories:

  • Framing

    Which should you choose? 98% fat-free or 1% fat?…..Most people go for the former despite the latter being healthier framing is where information is presented to trigger decision biases already present in your mind. Because in the example above people want less fat… they attribute the high number followed by their goal as more preferential.…

  • Sunk Cost fallacy

    You go to the cinema with a friend, and after watching half the movie, you realise that it’s terrible. You go to leave, but your friend points out that you’ve already watched half of it and spent all the money on the tickets, you might as well stay the sunk cost fallacy is when you…

  • Availability Cascade

    During Halloween, a razor blade is found in candy, and a parent shares the event with their friends. The friends then share the story with more friends until it becomes a local news story. A national news network reports on the story causing widespread panic. This causes homemade treats to be banned from Halloween. The…

  • Availability bias

    when 100 shark attacks are reported on the news, we attribute a higher likelihood of that shark attacks happening, despite the underlying probability not changing. We are decision-making machines that use all easily available data to inform our views of the world. And when we are closer to the source of the data, we weigh…

  • Hindsight bias

    “I knew that was going to happen” – experts after the event When we look at past events everything seems obvious and clear. We all overwrite past information that our minds see as not useful. Memories are then created to change what ended up happening to make it easier to remember what happened. THIS IS…

  • Miss-Attribute error

    We attribute others’ behaviours to their personality or fundamental character. But we judge ourselves based on situational factors.

  • Self-serving bias

    when you get an A on the test, its because you worked hard, but when you fail, its because the teacher was rubbish We attribute the good in our lives to our own actions but attribute the bad to external factors