Saturday, February 6, 2016

Which of These Cognitive Biases Have You Committed?

gambler’s fallacy believing that a coin toss is more likely to come up heads if the previous five flips were tails
anchoring the tendency to rely heavily on one piece of information—usually the first thing we learn—when making a decision
the Ikea effect disproportionately valuing things that you’ve labored over
unit bias assuming that a “portion” is the right size, which accounts for our tendency to finish off an opened bag of cookies

The Happiness Code