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Being afraid of regret is a powerful driver of maintaining the status quo in our lives.
It's a bias related to money and it describes how investors hold on tight to losing assets. The driving force behind this behavior is our fear of regret.
It shows we are very&nbs...
When starting new projects, we tend to have high expectations of them doing well. We put a big amount of effort into them and even if see they don't go that well, we still choose not to opt-out
Too many people hang on to relationships that they well know are going nowhere.
Ending a relationship puts us in the situation to admit we have made a mistake and it makes us experienc...
Regret is important in our lives because it facilitates the process of learning from our mistakes and avoiding repeating them.
Brain imaging helped identify the neural circuits that are involved when we feel regret.
A substantial activity is taking place in the hippocampus, which is responsible for memory. Also, ...
It's our tendency o focus on losses rather than gains.
That makes people who are more prone to feel regret less likely to take risks.
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Humans tend to blame mistakes on external events, circumstances and people. Admitting failure goes against our ego, as we think it exposes our incompetence, leading to potential loss of...
Recognizing that failure is healthy and a normal consequence of working in a complex environment can help us look at failure as a learning process instead of dreading it. It also helps to let your failure(s) be out in the open, making them visible to yourself and others.
A public failure is a learning for all, as they learn to make errors and take ownership of their mistakes. Openly admitting your mistakes also sends out a strong message of your being courageous, humble and bold.
Many mission-critical work environments report errors and mistakes on time. This is because the employees are allowed to commit and share mistakes, and report them without fearing that they will be sacked. This psychological safety is crucial to a healthy work environment.
It helps to know that failing is an inevitable part of our complicated working life, and aids our lifelong learning.
This goes back to your childhood.
For example: if you’re drawn to the excitement of meeting and starting a relationship with someone who has a lack of morals, character and is untrustworthy, try to find out about how your parents’ unhealthy habits have affected your choice in partners.
If you have a fear of abandonment and rejection and you are constantly ‘setting’ up scenarios that lead to your disappointment, you are the puppeteer controlling this.
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Status quo bias is when we prefer that our environment and situation should remain unchanged.
The bias has the most impact in the area of decision-making, as we tend to pre...
These explanations are all irrational for preferring the status quo: