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Cognitive Biases: Difference between revisions
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* '''[[Status Quo Bias]]''' - it is difficult for us to change long held beliefs because of [[cognitive dissonance]]. | * '''[[Status Quo Bias]]''' - it is difficult for us to change long held beliefs because of [[cognitive dissonance]]. | ||
* '''Anchoring Effect''' - the common human tendency to rely too heavily on the first piece of information offered (the “anchor”) 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. | ||
* '''Halo Effect''' - people assume a person or thing is good in every way because of one good characteristic. | |||
===== Mathematic Cognitive Biases ===== | ===== Mathematic Cognitive Biases ===== | ||
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*'''[[Hindsight Bias]]''' - the tendency to think that an event was more obvious or predictable than it really was. | *'''[[Hindsight Bias]]''' - the tendency to think that an event was more obvious or predictable than it really was. | ||
*'''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. | ||
*'''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. | *'''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. | ||