Cognitive Biases: Difference between revisions

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[[File:Reasons for cognitive bias.png|alt=Reasons why cognitive biases exist|thumb|'''Figure 1'''. Reasons for cognitive biases]]

'''Cognitive biases are systematic errors in thinking that occur in all people. They occur when we process information from the world around us leading to incorrect conclusions.''' One of the most common examples is [[Confirmation Bias|confirmation bias]] which refers to the tendency to search for, interpret, and remember information in a way that confirms one's preexisting beliefs or hypotheses, while disregarding or downplaying information that contradicts those beliefs or hypotheses. It can lead people to form inaccurate judgments and gain confidence to make flawed decisions as they may only consider information that supports their existing views and ignore important evidence to the contrary.

Cognitive biases are used in a range of industries to maintain users in a specific behavioural pattern, these industries include:

* Marketing

* Gaming

* Gambling

The best place to start to learn about biases is [[The Objectivity Assumption]] (see presentation above), which is the common held belief that one's self is absent of thought bias. Once understood, you will start to see how the various '''[[heuristics]], [[Thought Paradoxes|paradoxes]] or [[Logical fallacies|fallacies]]''' that make up the human mind exist and are protected by the ego's difficulty in being proven wrong ([[cognitive dissonance]]).

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* [[Optimism bias|'''Optimism Bias''']] - the ego doesn't like to think it will fail, therefore you will feel less likely to experience a negative event relative to others.

* [[Negativity Bias|'''Negativity Bias''']] - opposite to the above, and one of the fundamental features of clinical [[depression]]. Negativity bias is the psychological phenomenon in which negative information or experiences have a stronger impact on our thoughts, emotions, and behaviors compared to positive ones.

*'''[[Sunk Cost Fallacy]]''' - the ego does not like to be proven wrong in its past investments. This fallacy occurs when 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. ~~This leads to~~ [[Rosy Retrospection Bias|'''Rosy Retrospection Bias''']] where even when people have failed they overestimate the good aspects of the past.

*'''[[Sunk Cost Fallacy]]''' - the ego does not like to be proven wrong in its past investments. This fallacy occurs when 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.

*[[Rosy Retrospection Bias|'''Rosy Retrospection Bias''']] - where even when people have failed they overestimate the good aspects of the past.

==== Social Cognitive Biases ====

@@ Line 4: / Line 4: @@
 [[File:Reasons for cognitive bias.png|alt=Reasons why cognitive biases exist|thumb|'''Figure 1'''. Reasons for cognitive biases]]
 '''Cognitive biases are systematic errors in thinking that occur in all people. They occur when we process information from the world around us leading to incorrect conclusions.''' One of the most common examples is [[Confirmation Bias|confirmation bias]] which refers to the tendency to search for, interpret, and remember information in a way that confirms one's preexisting beliefs or hypotheses, while disregarding or downplaying information that contradicts those beliefs or hypotheses. It can lead people to form inaccurate judgments and gain confidence to make flawed decisions as they may only consider information that supports their existing views and ignore important evidence to the contrary.
+Cognitive biases are used in a range of industries to maintain users in a specific behavioural pattern, these industries include:
+* Marketing
+* Gaming
+* Gambling
 The best place to start to learn about biases is [[The Objectivity Assumption]] (see presentation above), which is the common held belief that one's self is absent of thought bias. Once understood, you will start to see how the various '''[[heuristics]], [[Thought Paradoxes|paradoxes]] or [[Logical fallacies|fallacies]]''' that make up the human mind exist and are protected by the ego's difficulty in being proven wrong ([[cognitive dissonance]]).
@@ Line 14: / Line 20: @@
 * [[Optimism bias|'''Optimism Bias''']] - the ego doesn't like to think it will fail, therefore you will feel less likely to experience a negative event relative to others.
 * [[Negativity Bias|'''Negativity Bias''']] - opposite to the above, and one of the fundamental features of clinical [[depression]]. Negativity bias is the psychological phenomenon in which negative information or experiences have a stronger impact on our thoughts, emotions, and behaviors compared to positive ones.
-*'''[[Sunk Cost Fallacy]]''' - the ego does not like to be proven wrong in its past investments. This fallacy occurs when 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. This leads to [[Rosy Retrospection Bias|'''Rosy Retrospection Bias''']] where even when people have failed they overestimate the good aspects of the past.
+*'''[[Sunk Cost Fallacy]]''' - the ego does not like to be proven wrong in its past investments. This fallacy occurs when 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.
+*[[Rosy Retrospection Bias|'''Rosy Retrospection Bias''']]  - where even when people have failed they overestimate the good aspects of the past.
 ==== Social Cognitive Biases ====

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