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| #'''Scarcity effect''' - makes people more likely to buy something when they think it’s about to run out or be taken away from them. | | #'''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''' - [[Allais' Paradox]]. | | #'''Thought paradoxes''' - [[Allais' Paradox]]. |
| Below is a list of common psychological fallacies:
| | #'''Appeal to Pity''' - someone accused of a crime using a cane or walker to appear more feeble in front of a jury is one example of appeal to pity. |
| | | #'''Bandwagon Fallacy''' - assumes something is true (or right or good) because others agree with it. In other words, the fallacy argues that if everyone thinks a certain way, then you should, too. |
| == Sunk Cost ==
| | #[[The Diderot Effect]] - we generally surround ourselves with objects that fit our current sense of identity. |
| A sunk cost fallacy is when someone continues doing something because of the effort they already put in it, regardless of whether the additional costs outweigh the potential benefits. "Sunk cost" is an economic term for any past expenses that can no longer be recovered.
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| For example: Imagine that after watching the first six episodes of a TV show, you decide the show isn't for you. Those six episodes are your "sunk cost." A sunk cost fallacy would be deciding to finish watching anyway because you've already invested roughly six hours of your life in it.
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| == Appeal to Pity ==
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| An appeal to pity relies on provoking your emotions to win an argument rather than factual evidence. Appealing to pity attempts to pull on an audience's heartstrings, distract them, and support their point of view.
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| Someone accused of a crime using a cane or walker to appear more feeble in front of a jury is one example of appeal to pity. The appearance of disability isn't an argument on the merits of the case, but it's intended to sway the jury's opinion anyway.
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| == Bandwagon Fallacy ==
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| The bandwagon fallacy assumes something is true (or right or good) because others agree with it. In other words, the fallacy argues that if everyone thinks a certain way, then you should, too.
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| One problem with this kind of reasoning is that the broad acceptance of a claim or action doesn't mean that it's factually justified. People can be mistaken, confused, deceived, or even willfully irrational in their opinions, so using them to make an argument is flawed.
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| == The Diderot Effect == | | == The Diderot Effect == |
| [[File:Diderot.jpg|thumb|More stuff = different identity = more stuff...]] | | [[File:Diderot.jpg|thumb|More stuff = different identity = more stuff...]] |