Psychological Biases that Influence your Decision-Making.....

[dasari4kntr]

 

 

 

 

Confirmation Bias - We interpret new information as confirmation of our existing beliefs.

 

 

Availability Bias - We rely on information that comes to our mind easily/the quickest.

Action Bias - We favor action over inaction. That’s why we sell or buy prematurely.

Overconfidence - We overestimate our own knowledge and ability. Often because we know too little to understand better. (Less knowledge => more confidence)

Survivorship Bias - This is a sample bias that occurs when we assess only successful outcomes and disregard failures.

 

 

Reactive Devaluation - Automatically devaluing opinions from opposing sites or people you dislike.

Ostrich Effect - The tendency to avoid negative (financial) information by pretending not to see it.

Illusion of Validity - Our tendency to overestimate our ability to accurately interpret and predict outcomes. We draw conclusions to make a story coherent and then ignore possible alternatives completely.

Hyperbolic Discounting - We are wired to prefer instant gratification (e.g. payouts). Even when offered significantly more in the future.

Post-Purchase Rationalisation - After a buying decision, we immediately erase all doubts and rationalize our decision. This works combined with the confirmation bias.

Illusion of Asymmetric Insight - We often believe our knowledge surpasses the knowledge of our peers.

False Consensus Effect - Too often, we overestimate the degree to which others agree with us.

Egocentric Bias - Tendency to ascribe oneself more responsibility for success than others or outside factors (e.g. luck or circumstance).

Pro-Innovation Bias - The tendency to overweight the possible usefulness and oversee risks.

Choice Supportive Bias - When we choose something, we feel positive about it. We disregard flaws or mistakes in our logic and switch to a state of cognitive ease.

 

 

Self-Serving Bias - We conceive our failures as situational while we claim full responsibility for our successes.

Curse of knowledge - Once we know something, it’s hard to imagine that other people don’t. We automatically assume that everyone else knows it, too.

Dunning-Kruger Effect - The less you know, the more confident you are. The more you know, the less confident you are.

 

 

This effect is similar to WYSIATI (What You See Is All There Is)

 

 

Belief Bias - We determine the strength of an argument based on how plausible its conclusion is to us, not by how strongly it supports that conclusion.

Escalation of Commitment - We remain committed to things we already invested in.

Pulling out of them feels like a waste of resources. This even applies if pulling out is obviously the best option.

Gambler’s Fallacy - We tend to think that past events affect future possibilities.

Zero-Risk Bias - If a risk is considered small, we assume there is no risk at all.

Outgroup Homogeneity Bias - We perceive outgroup members as homogenous and ingroup members as more diverse.

Clustering Illusion - We always look for cause-effect relationships. Thus, we find patterns and clusters even in totally random data.

Blind Spot Bias - We overlook biases in our own decision-making and see them more in others.

Recency Bias - We tend to put too much weight on recent events.

When things are great, we think they will get only better.
When things are bad, we think they will get only worse.

 

 

 

[csrcsr]

Gp

[csrcsr]

Bongu le cassssste bias and religion and region biassssss missing antuna maa db uth

[HEROO]

1 hour ago, csrcsr said:

Bongu le cassssste bias and religion and region biassssss missing antuna maa db uth

Agreed most of the people are inclined to one of the above 

[Konebhar6]

2 hours ago, dasari4kntr said:

 

 

 

 

Confirmation Bias - We interpret new information as confirmation of our existing beliefs.

 

 

Availability Bias - We rely on information that comes to our mind easily/the quickest.

Action Bias - We favor action over inaction. That’s why we sell or buy prematurely.

Overconfidence - We overestimate our own knowledge and ability. Often because we know too little to understand better. (Less knowledge => more confidence)

Survivorship Bias - This is a sample bias that occurs when we assess only successful outcomes and disregard failures.

 

 

Reactive Devaluation - Automatically devaluing opinions from opposing sites or people you dislike.

Ostrich Effect - The tendency to avoid negative (financial) information by pretending not to see it.

Illusion of Validity - Our tendency to overestimate our ability to accurately interpret and predict outcomes. We draw conclusions to make a story coherent and then ignore possible alternatives completely.

Hyperbolic Discounting - We are wired to prefer instant gratification (e.g. payouts). Even when offered significantly more in the future.

Post-Purchase Rationalisation - After a buying decision, we immediately erase all doubts and rationalize our decision. This works combined with the confirmation bias.

Illusion of Asymmetric Insight - We often believe our knowledge surpasses the knowledge of our peers.

False Consensus Effect - Too often, we overestimate the degree to which others agree with us.

Egocentric Bias - Tendency to ascribe oneself more responsibility for success than others or outside factors (e.g. luck or circumstance).

Pro-Innovation Bias - The tendency to overweight the possible usefulness and oversee risks.

Choice Supportive Bias - When we choose something, we feel positive about it. We disregard flaws or mistakes in our logic and switch to a state of cognitive ease.

 

 

Self-Serving Bias - We conceive our failures as situational while we claim full responsibility for our successes.

Curse of knowledge - Once we know something, it’s hard to imagine that other people don’t. We automatically assume that everyone else knows it, too.

Dunning-Kruger Effect - The less you know, the more confident you are. The more you know, the less confident you are.

 

 

This effect is similar to WYSIATI (What You See Is All There Is)

 

 

Belief Bias - We determine the strength of an argument based on how plausible its conclusion is to us, not by how strongly it supports that conclusion.

Escalation of Commitment - We remain committed to things we already invested in.

Pulling out of them feels like a waste of resources. This even applies if pulling out is obviously the best option.

Gambler’s Fallacy - We tend to think that past events affect future possibilities.

Zero-Risk Bias - If a risk is considered small, we assume there is no risk at all.

Outgroup Homogeneity Bias - We perceive outgroup members as homogenous and ingroup members as more diverse.

Clustering Illusion - We always look for cause-effect relationships. Thus, we find patterns and clusters even in totally random data.

Blind Spot Bias - We overlook biases in our own decision-making and see them more in others.

Recency Bias - We tend to put too much weight on recent events.

When things are great, we think they will get only better.
When things are bad, we think they will get only worse.

 

 

 

Anna ee madhya NY paina unna elite universities emanna velli vachava? 

Ee DB ki ee post enti ?  Asale chinna burralu, plus sagam IT lo work sesi sesi poyay, inka ee TANA/NATA. etc and politics godavallo migata sagam gone. 

[dasari4kntr]

6 minutes ago, Konebhar6 said:

Anna ee madhya NY paina unna elite universities emanna velli vachava? 

Ee DB ki ee post enti ?  Asale chinna burralu, plus sagam IT lo work sesi sesi poyay, inka ee TANA/NATA. etc and politics godavallo migata sagam gone. 

ee topic gurinchi…intaku mundu kooda posts vesa bro…

[Konebhar6]

8 minutes ago, dasari4kntr said:

ee topic gurinchi…intaku mundu kooda posts vesa bro…

Kidding.

Categorize baga chesadu filled with philosophy. Individual gaa each category made a lot of sense to me. But naaku aa overall diagram (Firstone), mukka kuda ardham kaledu.

[Thokkalee]

Two weeks back ee bias mida training ayyindi.. same points but 2 hours mandatory training 🤦‍♂️

[Konebhar6]

2 hours ago, Thokkalee said:

Two weeks back ee bias mida training ayyindi.. same points but 2 hours mandatory training 🤦‍♂️

enti office lona? Varnee ilanti trainings kuda unnaya?

[Midnightsun]

Intellect is not everything.

The decisions made from primitive brain are the main reasons for failure.

amygdala has only 0 or 1

[Thokkalee]

6 hours ago, Konebhar6 said:

enti office lona? Varnee ilanti trainings kuda unnaya?

Yes.. mandatory training.. 

[Midnightsun]

7 hours ago, Midnightsun said:

Intellect is not everything.

The decisions made from primitive brain are the main reasons for failure.

amygdala has only 0 or 1

Anyone up for the debate?

[mettastar]

Recency bias .. this influences alot 

[dasari4kntr]

16 hours ago, csrcsr said:

Gp

 

15 hours ago, HEROO said:

Agreed most of the people are inclined to one of the above 

 

14 hours ago, Konebhar6 said:

Kidding.

Categorize baga chesadu filled with philosophy. Individual gaa each category made a lot of sense to me. But naaku aa overall diagram (Firstone), mukka kuda ardham kaledu.

 

12 hours ago, Thokkalee said:

Two weeks back ee bias mida training ayyindi.. same points but 2 hours mandatory training 🤦‍♂️

 

41 minutes ago, mettastar said:

Recency bias .. this influences alot 

read these three pages…

[csrcsr]

1 minute ago, dasari4kntr said:

 

 

 

 

read these three pages…

Ack