It happens to all of us, every day. We scroll through our social media feed, unaware of the invisible hand gently nudging us towards information that confirms our existing beliefs. It’s confirmation bias, the silent puppeteer of your online experience. The Echo Chamber Imagine it: you, a hard environmentalist, bombarded with articles about the climate […]
Haters gonna hate, potatoes gonna potate Read More »
Introduction to the tendency to prioritize immediate rewards In this article, we will explore the common tendency we all have to prioritize immediate rewards over long-term benefits. It’s something that many of us can relate to – the desire for instant gratification and the temptation to choose short-term gains over long-term goals. We often find ourselves giving
Poor choices and instant gratification Read More »
The Halo Effect is an unconscious bias that attributes overall positive qualities to someone based on a single positive trait Introduction Generalising from one positive trait to an overall positive judgments, aka “Halo Effect”. Is a powerful bias that can significantly impact our decision-making How the halo effect works The halo effect works by tapping
The Halo Effect. How first impressions shape our judgments Read More »
Decision paralysis: The state of being unable to make a decision due to an overwhelming number of choices Introduction In today’s world, we are faced with more choices than ever before. From the products we buy to the jobs we take to the people we date, we have a seemingly endless array of options to
Regret is a powerful emotion that can have a significant impact on our lives. It can lead us to avoid making decisions altogether, or to make decisions that are not in our best interests. This tendency to avoid regret is a cognitive bias known as regret aversion. Regret aversion is a bias that leads us
The fear of making choices that could lead to negative consequences Read More »
Framing describes how the way information is presented influence decision-making. It can be used to persuade people to make certain choices rather than others How it works Framing works by tapping into our cognitive biases. Cognitive biases, as we are trying to explain in all our blog posts, are mental shortcuts that we use to
Framing: How the Way We Present Information Affects Our Decision-Making Read More »
The overconfidence bias is what leads individuals to overestimate their abilities and knowledge. It is a common bias that can have a significant impact on our decision-making, both personally and professionally. How overconfidence bias works Overconfidence bias can be caused by a number of other behavioural factors, including: Real-life examples of overconfidence bias Here are
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In the world of decision-making, there’s a curious phenomenon…academically referred as “Sunk Costs fallacy”. As a matter of fact, it’s a trap that even the savviest of us can fall into, where we continue to invest time, money, and effort into something just because we’ve already invested so much. Sounds familiar? It’s more common the
Sunk costs. The irrational propensity to continue investing in something not worthwhile Read More »
Why we, as consumers, should care about the Anchoring bias? Because most of companies are very well aware about it and they strategically leverage it to influence our perceptions of pricing and value. Many use it ethically and responsibly. Some other might spoil it. In this article we will go through 2 pricing strategies (kinda
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Answer this question without using the calculator. 333 x 2 is > or < than 74 x 9? – Now check the calculator and then read through Yes, that was sneaky, but I hope that line caught your attention The human mind is an intricate web of cognitive processes that shape our judgments. One of
Anchoring. Acknowledge this bias and its powerful impact on judgment Read More »