Ideas from books, articles & podcasts.
...are common thinking errors that harm our rational decision-making.
We don't always see things as they are. We don't simply glean information through the senses and act on it; instead, our minds give that info their own spin, which can sometimes be deceptive.
Is our tendency to overestimate the odds of our own success compared to other people's.
Overly optimistic predictions can be dangerous, leading us to waste time and resources pursuing unrealistic goals. In the real world of business, things don't always work out for the best, and it...
Is the tendency to change our thought processes and behaviors more because of negative things than we do because of neutral or positive things.
How to control it: Track your wins: record objectives attained, new ideas realized, and positive effects your work has had on the liv...
Is the tendency to focus on new information that confirms pre-existing beliefs and trivialize anything that might challenge those beliefs.
How to control it: Seek out information that goes against your pre-existing beliefs.
It describes our tendency to commit to something just because we've already invested resources in it—even if it would be better to give up on it.
How to control it: Always reevaluate your processes in light of new evidence.
Is the tendency to privilege the first information we encounter, even when subsequent information turns out to be more relevant or realistic.
How to control it: Because the anchoring effect can give you blinders for specific metrics, be sure that you're always reviewing data f...
Is why we get attached to things when we had a hand in creating them.
It echoes the sunk cost fallacy: We're not prioritizing the object/project as much as we are the resources we've put into it.
The IKEA effect is easy to put to good use at work. You can do it for your...
It explains why we work harder to achieve our goals when they're most closely in sight: At work, you might notice that you and your coworkers sprint toward a project's finish line once you can see the light at the end of the tunnel.
How to control it: Visualize your work in wa...
We tend to put the least amount of effort possible into problem-solving.
We are apt to minimize cognitive effort and save our strength for when it's most needed. If we're not consciously engaged with the details, we're likely to take any shortcut that presents itself.
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