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Cognitive biases: Difference between revisions
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[[File:Cognitive biases.jpg|alt=Cognitive biases|Cognitive biases|thumb]]'''A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them. They are predictable patterns of thought and behaviour leading to incorrect conclusions.''' | [[File:Cognitive biases.jpg|alt=Cognitive biases|Cognitive biases|thumb]]'''A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them. They are predictable patterns of thought and behaviour leading to incorrect conclusions.''' | ||
There are many cognitive biases which have been documented, they persist in society as they are self-reinforced by the [https://burnzero.com/Dunning_Kruger_effect Dunning Kruger effect] combining with the [https://burnzero.com/Confirmation_Bias Confirmation Bias]. Below | There are many cognitive biases which have been documented, they persist in society as they are self-reinforced by the [https://burnzero.com/Dunning_Kruger_effect Dunning Kruger effect] combining with the [https://burnzero.com/Confirmation_Bias Confirmation Bias]. Below is a list of the most prevalent in society ranked on their importance: | ||
# [[Optimism bias]] - a computer cannot tell you whether it will rain or not, only the probability of it occurring. | # [[Optimism bias]] - a computer cannot tell you whether it will rain or not, only the probability of it occurring. | ||
#[[Additive Bias]] | #[[Additive Bias]] | ||
#Availability Heuristic<ref>https://www.goodreads.com/book/show/11468377-thinking-fast-and-slow</ref> - people tend to use the ease with which they can think of examples when making decisions. | #Availability Heuristic<ref>https://www.goodreads.com/book/show/11468377-thinking-fast-and-slow</ref> - people tend to use the ease with which they can think of examples when making decisions. | ||
#Anchoring Effect - the common human tendency to rely too heavily on the first piece of information offered (the “anchor”) when making decisions. | |||
#Hindsight Bias - the tendency to think that an event was more obvious or predictable than it really was. | |||
#Sunk Cost Fallacy - whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial. | |||
#Halo Effect - people assume a person or thing is good in every way because of one good characteristic. | |||
#Scarcity effect - makes people more likely to buy something when they think it’s about to run out or be taken away from them. | |||
=== Thought paradoxes === | === Thought paradoxes === | ||