Lesson 8: Cognitive Bias

Question 1

What is a cognitive bias

Answer 1

Its when you use the fast system 1 thinking and just ride along/dont stop to think rationally or to check the facts and jump to erroneous conclusions.

Question 2

When do biases occur and how many diff types are there?

Answer 2

Biases occur all the time and we have over 300 of them. They keep us safe and are quick/energy efficient.

Question 3

A national anthem that strnegthen solidarity and patriotism - which bias is this?

Answer 3

In-group favouritism

Question 4

When poeple tend to prefer others who are like them and fight with or alienate others who aren’t - name the bias

Answer 4

In group favouritism

Question 5

Describe Solomon Asch’s conformity experiment

Answer 5

Asch showed the degree to which a person’s own opinion is influenced by that of agroup.

Study participants were giving obviously wrong answers just because others also gave them first. Just to conform.

Question 6

Which bias does the Asch experiment hint towards?

Answer 6

Conformity bias or Group Think+

Question 7

If I wear a a tie, you will think I am more professional vs if I dont. Which bias is this?

Answer 7

Halo Effect

Question 8

Describe the Duning Kruger Effect

Answer 8

Think of it like a consultant

Doesnt know much but sounds like he does and talks about it with strong opinion cuz he craves attention

Whereas the true experts, recognize nuances and say they dont know everything

Question 9

Describe the anchoring effect

Answer 9

What you hear first becomes the benchmark or anchor for everything that comes afterwards

Question 10

When we tend to search for and favor information that supports our preexisting beliefs, what is it called?

Answer 10

Confirmation bias

Question 11

If you have a negative belief about someone o something, how many data points to do you generally need to be made to think otherwise

Answer 11

5-7 positive data points

Question 12

Give an example of confirmation bias in your everyday life

Answer 12

All guru-jis are a hoax - even if one of them does soemthing good, I will think some thing is off. If I find something wrong one of them did, I will use that to strnegthen my bias.

Question 13

Marketing uses the rule of repitition a lot. So does politics. Why and what bias is this calling up?

Answer 13

Repeat a lie enough and it will be believed as the truth

Repitition bias - aka Availability Cascade

Question 14

What’s the famous story that best describes the STATUS QUO bias?

Answer 14

We wont change until the change “hurts enough” - Cowboy and the dog pin story

Question 15

Describe the sunk cost fallacy or bias

Answer 15

When you’ve gotten too deep into something to pull out of it, even though it has no future (e.g. project at work with too much money/time invested, a marriage with years spent married)

Question 16

The way you give meaning to a situation or an experience, positive or neg - what bias is this?

Answer 16

Framing Effect - you can choose to look at a situation whichever way you want. As a victim or not. Some ppl have a bias towards one vs another.

Question 17

What the right way to address a stereotype you have

Answer 17

To say “ Some of the Asians I know, are really bad at driving” or “Some of the men I know are really bad listeners”

Question 18

Describe Milgrams experiment with men in coats. Which bias is this?

Answer 18

AUTHORITY BIAS - It examined people’s willingness to obey authority. Participants in the study were instructed to administer electric shocks to a learner, even when that obedience caused harm to the learner.

Question 19

Which bias is it that describes how ppl think they have been healed even though they took a fake pill

Answer 19

Placebo Effect

Question 20

What is the IKEA effect/bias?

Answer 20

We place a higher value on things we have made/created ourselves vs created by others. Like building an IKEA furniture.

Question 21

We are not aware we have these, but can ask ppl we trust to tell us about them. What type of bias is being referred to here?

Answer 21

Blind Spot Bias - The tendency to not see our own biases and see ourselves as less susceptible to biases than others.

We all have them and it has nothing to do with intelligence, self esteem or ability.

Question 22

When a teacher believes in you and you live up to it - what bias is this? Recall the full experiment. Whats the key message?

Answer 22

Pygmalion effect - Verbal and Non verbal communication matters

Teachers shown top 5 IQ students (which were fake). Swore not to let them cloud their judgement. Year later those 5 students showed the biggest jump in IQ.

1. Always look for potential - not past performance - use with clients.
2. Opposite can also be true - watch out for these cues in client’s past