Learn more about problemsolving with this collection
How to overcome fear of rejection
How to embrace vulnerability
Why vulnerability is important for personal growth
Survivorship bias
We are more likely to listen to success stories than failures. The result is that we often over-estimate the likelihood of success in risky ventures.
451
1.21K reads
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Availability heuristic
Our brain likes to take shortcuts to solve a problem when normal methods are too slow to find a solution.
The problem with this approach is that frightening events are easier to recall than every-day events. We should be aware that alarmist news broadcasts don't help in an accurate sense o...
456
1.09K reads
Halo effect
Our brains like shortcuts and ideas that are consistent.
When someone makes a good first impression during an interview, their professional accomplishments are more likely to be viewed as similarly positive later.
472
1.35K reads
Sunk cost fallacy
The idea is once we are invested in something, we become less likely to abandon it, even if it is clear that it will ultimately fail.
We frequently lose more if we don't make the hard decision to cut our losses.
463
946 reads
Confirmation bias
People don't like to rethink their beliefs once they are formed.
We would rather ignore information that would challenge our ideas than engage with threatening new information. This is called "confirmation bias".
532
1.64K reads
Anchoring
We have a tendency to stubbornly hold on to a number once we hear it and gauge all other numbers based on the initial number, even if the information is not that relevant.
For example, if customers are limited to 'four per customer' they are more likely to buy four, even if they did not ...
422
1K reads
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The survivorship bias
While success stories are motivating, they could lead to a false belief that success is more controllable and predictable than it is.
- The common traits of successful people and organisations are ubiquitous. These same traits may be equally present in the less success...
The Survivorship Bias
We tend to be interested in the success stories of many. We love the encouragement it provides us, but we often overlook the fact that most of these success stories have undergone through many failures.
Survivorship bias is when we concentrate on the peopl...
Survivorship Bias
Survivorship bias is a logical error that twists our understanding of the world and leads to a wrong understanding of cause and effect.
We fall into survivorship bias when we assume that success stories tell the entire story of a product/business, while we don't properly consider past fail...
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