November 2024

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Choice-Supportive Bias

Understanding Choice-Supportive Bias Definition of Choice-Supportive Bias Choice-Supportive Bias is the psychological tendency to recall our decisions in a favorable light. When people remember their past choices, they often inflate the positive attributes of the chosen option while downplaying any negative aspects, thus creating a skewed perception of that decision. This bias can sometimes lead […]

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46

Blind Spot Bias

“`html Introduction to Blind Spot Bias Explanation of Cognitive Bias Cognitive biases are systematic patterns of deviation from norm or rationality in judgment, often arising from the way our brain processes information. These biases can affect how we perceive the world, ultimately influencing our decision-making processes. Understanding these biases is crucial, as it helps us

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Hasty Generalization

Hasty Generalization: “He always wears black; he must be depressed.”

# Understanding the Hasty Generalization in Emotional Assessments In 2022, a thought-provoking observation was made by a coworker about a colleague’s clothing choices. Over several weeks, it was repeatedly noted that the colleague always wore black clothing. This led to a casual comment suggesting that the colleague must be depressed. At first glance, this might

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45

Survivorship Bias

Introduction to Survivorship Bias Definition of Survivorship Bias Survivorship Bias refers to the logical error of focusing on entities that made it past a selection process while overlooking those that didn’t. Consequently, this bias leads to skewed perceptions and conclusions. Importance in Data Analysis and Decision-Making Understanding Survivorship Bias is crucial in data analysis and

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44

Status Quo Bias

Status Quo Bias in Decision Making Definition of Status Quo Bias The Status Quo Bias refers to the human preference for maintaining current conditions over change. This bias manifests when individuals exhibit a strong inclination to stick with existing options, even when change could potentially lead to better outcomes. Importance of Understanding Status Quo Bias

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43

Recency Bias

Introduction to Recency Bias Definition of Recency Bias Recency Bias refers to the cognitive tendency where individuals give greater importance to recent events over historical occurrences. This bias stems from the noticeable impact that recent information often has on human memory and decision-making, overshadowing older data or information. Importance of Understanding Recency Bias in Decision-Making

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Stereotyping

Stereotyping: “She’s a teenager, so she must be irresponsible.”

# Understanding Social Bias: Stereotyping Teenagers and Its Consequences It was in 2021 when a casual discussion took place with a neighbor regarding various babysitting options for their children. Amid the conversation, an offhand remark surfaced, highlighting a common societal perception: teenagers, by sheer virtue of their age, are deemed irresponsible. This stereotype, whether voiced

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42

Negativity Bias

Understanding Negativity Bias Definition of Negativity Bias The concept of Negativity Bias refers to the psychological phenomenon where humans tend to focus more on negative experiences or information than positive ones. Despite being exposed to a mix of positive and negative stimuli, our brain gives priority to the negative, thereby significantly influencing our perceptions and

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41

Ingroup Bias

Understanding Ingroup Bias Definition of Ingroup Bias Ingroup Bias refers to the tendency to favor one’s own group over others. This psychological phenomenon manifests in various aspects of life, influencing how individuals perceive and interact with those within versus outside their group. Such behavior often arises without conscious awareness. Importance of Understanding Ingroup Bias Recognizing

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Pessimism Bias

Pessimism Bias: An Introduction Definition of Pessimism Bias Pessimism Bias is a cognitive phenomenon where individuals tend to overestimate the likelihood of negative outcomes and underestimate the likelihood of positive outcomes. This bias can skew one’s perception of reality, making situations appear more dire than they actually are. Understanding this inclination is crucial, as it

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