Cognitive biases are limitations in our thinking that can lead to irrational decisions and judgments. They are caused by our brain’s tendency to use mental shortcuts to make sense of the world around us. Our “Question More, Action Knowledge” philosophy emphasizes the importance of nurturing a mindset of active questioning and discovery.
Cognitive biases can have a significant impact on our lives. They can lead to us making poor financial decisions, choosing unhealthy relationships, and even putting ourselves in danger. However, by being aware of these biases, we can take steps to reduce their impact on our thinking and make more rational decisions.
Table of Contents
Perception and Attention Biases
These biases affect how we perceive, remember, and focus on information.
Inattentional Blindness
When we fail to notice things that are right in front of us because we are not paying attention.
Availability Bias
When we overestimate the likelihood of events that are easy to remember.
Framing Effect
When our decisions are influenced by the way information is presented.
When people continue investing in something because of the time, money, or effort they’ve already spent, even if it’s no longer a good decision.
Loss Aversion
When we feel the pain of a loss more strongly than the pleasure of a gain.
Optimism Bias
When we believe we are less likely to experience negative events than others.
Action Bias
The tendency to prefer taking action, even when doing nothing might be the better option.
Scarcity Bias
Valuing scarce resources more, often irrationally.
Caveman Syndrome
Tendency to avoid change and seek comfort in familiarity, often based on primal fears.
Social Influence Biases
These biases relate to how others influence our thoughts, beliefs, and behaviors.
Attribution Error
Attributing others’ actions to their character rather than situational factors, while doing the opposite for oneself.
Bandwagon Effect
When people adopt a behavior or belief simply because others are doing it.
Bystander Effect
People are less likely to help someone in need when others are present, assuming someone else will take action.
Pygmalion Effect
The phenomenon where higher expectations lead to improved performance.
Comparison Fallacy
The mistaken belief that your worth or success is determined by comparing yourself to others, leading to distorted self-perception.
Adaptation and Self-Perception Biases
This category focuses on biases related to self-evaluation, expectations, and adaptation to change.
Hedonic Adaptation
The tendency to quickly return to a stable level of happiness, regardless of positive or negative changes in life.
Hindsight Bias
The tendency to believe, after an event has occurred, that you knew or predicted the outcome all along.
Novelty Bias
Preference for new or unusual experiences, often leading to a bias where new stimuli capture attention more easily.
Here are some tips for reducing cognitive bias:
Be aware of your own biases. The first step to reducing cognitive bias is to be aware of your own biases. This can be difficult, as we are often not aware of the ways in which our thinking is biased. However, there are a number of resources available that can help you identify your own biases.
Seek out diverse perspectives. One of the best ways to reduce cognitive bias is to seek out diverse perspectives. This means talking to people who have different backgrounds, experiences, and beliefs than you. By exposing yourself to different perspectives, you can challenge your own beliefs and assumptions.
Be critical of your own thinking. When you are making a decision, take some time to think critically about your own thinking. Ask yourself if you are being influenced by any cognitive biases. If you are, try to adjust your thinking accordingly.
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