Cognitive Bias

Question 1

An error that comes from focusing only on surviving examples, causing is to misjudge situation. For instance, we might think that being an entrepreneur is easy because we haven’t heard of those all who failed.

Answer 1

Survivorship Bias

Question 2

The probability of one person adopting a belief increases based on the number of people who hold that belief. This is a powerful form of groupthink and is the reason why meetings are often unproductive.

Answer 2

Bandwagon Effect

Question 3

When you choose something you tend to feel positive about it, even if that choice has flaws. Like how you think your dog is awesome—even if it bites people once in a while.

Answer 3

Choice-supportive bias

Question 4

People are over-reliant on the first piece of information they hear. In a salary negotiation, whoever makes the first offer establishes a range of reasonable possibilities in each persons mind.

Answer 4

Anchoring Bias

Question 5

This is the tendency to see patterns in random events. It is key to various gambling fallacies, like the idea that red is more or less likely to turn up on a roulette table after a string of reds.

Answer 5

Clustering Illusion

Question 6

Allowing our expectations to influence how we perforce the world. An experiment involving a football game between students from two universities shoes that one team saw the opposing team commit more infractions.

Answer 6

Selective Perception

Question 7

Some of us are too confident in our abilities, and this causes us to take greater risks in our daily lives. Experts are more prone to this bias than laypeople, since they are more convinced that they are right.

Answer 7

Overconfidence

Question 8

People overestimate the importance of information that is available to them. A person might argue that smoking is not unhealthy because they know someone who lived to 100 and smoked three packs a day.

Answer 8

Availability Heuristic

Question 8

Failing to reconsider your own cognitive biases is a bias in itself. People notice cognitive and motivational biases much more in others than in themselves.

Answer 8

Blind-spot bias

Question 10

Expecting a group or person to have certain qualities without having real information about the person. It allows us to quickly identify strangers as friends or enemies, but people tend to overuse and abuse if.

Answer 10

Stereotyping

Question 11

Judging a decision based on the outcome—rather than how exactly the decision was made in the moment. Just because you won a lot in Vegas doesn’t mean gambling your money was a smart decision.

Answer 11

Outcome Bias

Question 12

The tendency to seek information when it does not affect action. More information is not always better. With less information, people can often make more accurate predictions.

Answer 12

Information Bias

Question 12

When simply believing that something will have a certain effect on you caused it to have that effect. In medicine, people given fake pills often experience the same physiological effects as people given the real thing.

Answer 12

Placebo Effect

Question 13

Where people favor prior evidence over new evidence or information that has emerged. People were slow to accept the Earth was round because they maintained their earlier understanding that the planet was flat.

Answer 13

Conservatism Bias

Question 14

When a proponent of innovation tends to overvalue its usefulness and undervalue its limitations.

Answer 14

Pro-innovation Bias

Question 15

The tendency to weigh the latest information more heavily than older data. Investors often think the market will always look the way it looks today and make unwise decisions.

Answer 15

Recency

Question 18

Sociologist have found that we love certainty—even if it’s counterproductive. Eliminating risk entirely means there is no chance of harm be if caused.

Answer 18

Zero-risk Bias

Question 19

We tend to listen only to information that confirms our preconceptions—one of the many reasons it’s so hard to have and intelligent conversation about climate change.

Answer 19

Confirmation Bias

Question 19

The decision to ignore dangerous or negative information by “burying” ones head in the sand, like an ostrich. Research suggest that investors check the value of their holdings significantly less often during bad markets.

Answer 19

Ostrich Effect

Question 20

Our tendency to focus on the most easily recognizable features of a lesson or concept. When you think about dying, you might worry about being mauled by a lion, as opposed to what is statistical more likely, such as a car accident.

Answer 20

Salience

Question 21

Survivorship Bias

Answer 21

An error that comes from focusing only on surviving examples, causing is to misjudge situation. For instance, we might think that being an entrepreneur is easy because we haven’t heard of those all who failed.

Question 22

Bandwagon Effect

Answer 22

The probability of one person adopting a belief increases based on the number of people who hold that belief. This is a powerful form of groupthink and is the reason why meetings are often unproductive.

Question 23

Choice-supportive bias

Answer 23

When you choose something you tend to feel positive about it, even if that choice has flaws. Like how you think your dog is awesome—even if it bites people once in a while.

Question 24

Anchoring Bias

Answer 24

People are over-reliant on the first piece of information they hear. In a salary negotiation, whoever makes the first offer establishes a range of reasonable possibilities in each persons mind.

Question 25

Clustering Illusion

Answer 25

This is the tendency to see patterns in random events. It is key to various gambling fallacies, like the idea that red is more or less likely to turn up on a roulette table after a string of reds.

Question 26

Selective Perception

Answer 26

Allowing our expectations to influence how we perforce the world. An experiment involving a football game between students from two universities shoes that one team saw the opposing team commit more infractions.

Question 27

Overconfidence

Answer 27

Some of us are too confident in our abilities, and this causes us to take greater risks in our daily lives. Experts are more prone to this bias than laypeople, since they are more convinced that they are right.

Question 28

Availability Heuristic

Answer 28

People overestimate the importance of information that is available to them. A person might argue that smoking is not unhealthy because they know someone who lived to 100 and smoked three packs a day.

Question 29

Blind-spot bias

Answer 29

Failing to reconsider your own cognitive biases is a bias in itself. People notice cognitive and motivational biases much more in others than in themselves.

Question 30

Stereotyping

Answer 30

Expecting a group or person to have certain qualities without having real information about the person. It allows us to quickly identify strangers as friends or enemies, but people tend to overuse and abuse if.

Question 31

Outcome Bias

Answer 31

Judging a decision based on the outcome—rather than how exactly the decision was made in the moment. Just because you won a lot in Vegas doesn’t mean gambling your money was a smart decision.

Question 32

Information Bias

Answer 32

The tendency to seek information when it does not affect action. More information is not always better. With less information, people can often make more accurate predictions.

Question 33

Placebo Effect

Answer 33

When simply believing that something will have a certain effect on you caused it to have that effect. In medicine, people given fake pills often experience the same physiological effects as people given the real thing.

Question 34

Conservatism Bias

Answer 34

Where people favor prior evidence over new evidence or information that has emerged. People were slow to accept the Earth was round because they maintained their earlier understanding that the planet was flat.

Question 35

Pro-innovation Bias

Answer 35

When a proponent of innovation tends to overvalue its usefulness and undervalue its limitations.

Question 36

Recency

Answer 36

The tendency to weigh the latest information more heavily than older data. Investors often think the market will always look the way it looks today and make unwise decisions.

Question 37

Zero-risk Bias

Answer 37

Sociologist have found that we love certainty—even if it’s counterproductive. Eliminating risk entirely means there is no chance of harm be if caused.

Question 38

Confirmation Bias

Answer 38

We tend to listen only to information that confirms our preconceptions—one of the many reasons it’s so hard to have and intelligent conversation about climate change.

Question 39

Ostrich Effect

Answer 39

The decision to ignore dangerous or negative information by “burying” ones head in the sand, like an ostrich. Research suggest that investors check the value of their holdings significantly less often during bad markets.

Question 40

Salience

Answer 40

Our tendency to focus on the most easily recognizable features of a lesson or concept. When you think about dying, you might worry about being mauled by a lion, as opposed to what is statistical more likely, such as a car accident.