IKEA Effect - Deepstash
Daring To Be Vulnerable

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Daring To Be Vulnerable

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IKEA Effect

IKEA Effect

We tend to value things more when we have a part in their creation.

Example: “Isn’t this a beautiful coffee table? I put it together myself!”

204

780 reads

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Suggestibility

When your self-perception changes in response to a leading question.

Example: You call in sick from work, and your boss asks, “How did you get COVID?”

194

754 reads

Ben Franklin Effect

Ben Franklin Effect

Doing a favor for someone else makes us more likely to do more versus returning a favor they did for us.

Example: You didn’t like Brad at first, but after he asked for your advice, you've been looking for more ways to help him.

205

752 reads

<p>Insisting that real memorie...

Insisting that real memories are just figments of your imagination.

Example: Bill thinks he’s created the perfect slogan, forgetting that he heard it on TV.

193

775 reads

Declinism

Declinism

We think nostalgically about the past and see the world going downhill from there.

Example: “Back then, we never even thought about locking our doors!”

203

1.94K reads

The overestimation that only good things will happen.

Example: “It can only get better from here!”

194

689 reads

Pessimism Bias

The overestimation that only bad things will happen.

Example: “It can only get worse from here!”

194

737 reads

Blind Spot Bias

Blind Spot Bias

We call others out for biases while insisting we have none.

Example: “I’m not biased; you are.”

201

821 reads

Gambler’s Fallacy

Gambler’s Fallacy

Believing a random event is more or less likely to happen based on preceding events.

Example: The roulette ball landed on black the last four times, so you decide to put everything on red.

197

1.16K reads

Law of Triviality

Law of Triviality

We spend inordinate amounts of time and effort on trivial issues while ignoring the ones that matter.

Example: The mayor devotes an entire committee to keeping the sidewalk clean but does nothing to help the homeless.

204

769 reads

Zeigarnik Effect

Zeigarnik Effect

We tend to recall interrupted tasks more than completed ones.

Example: Despite earning perfect marks in his annual company review, Bill fixates on that one project he dropped the ball on and feels guilty every time he comes to work.

208

738 reads

Clustering Illusion

Clustering Illusion

Our tendency to see patterns in randomness.

Example: “That cloud looks like a rider on horseback.”

198

741 reads

Availability Cascade

Availability Cascade

Collective beliefs grow stronger the more people parrot them.

Example: A study linking vaccines to autism (despite being disproved) compels many to avoid them altogether.

202

1.68K reads

Zero-Risk Bias

Zero-Risk Bias

We would rather nip small risks in the bud even when another strategy would mitigate overall risk.

Example: You opt for that sugar-free soda, not realizing the artificial sweeteners it contains might actually be worse for you.

194

1.07K reads

<p>Remembering things differen...

Remembering things differently from how they actually happened.

Example: You insist that the Monopoly man has a monocle.

206

2.43K reads

Sunk-Cost Fallacy (aka Escalation of Commitment)

Sunk-Cost Fallacy (aka Escalation of Commitment)

We’re reluctant to pivot from a strategy in which we’ve already invested so much time and energy.

Example: You keep watching the movie or reading the book even though it sucks.

205

1.3K reads

Authority Bias

Authority Bias

The tendency to put our faith in authority figures.

Example: “The President said it, so it must be true!”

199

897 reads

Tachypsychia

Tachypsychia

We perceive time differently when under stress or trauma.

Example: “When the robber pulled a gun on me, everything seemed to stop.”

204

834 reads

Status Quo Bias

Status Quo Bias

We take comfort in consistency and see any disruption as a burden.

Example: Despite being in a toxic relationship, Jack doesn’t want to go through the trouble of breaking up (and going on first dates again).

209

1.4K reads

Framing Effect

Framing Effect

The tendency to interpret the same information differently depending on context.

Example: You perceive wine as better tasting when it’s served in a crystal glass versus a plastic cup.

205

1.03K reads

Stereotyping

Stereotyping

We fall back on surface-level beliefs about a group instead of looking at individuals within that group.

Example: “That guy with the tie-dye T-shirt must be a pothead.”

198

968 reads

Outgroup Homogeneity Bias

Outgroup Homogeneity Bias

We view our ingroups as diverse and outgroups as all the same.

Example: Brad doesn’t own a gun and assumes anyone who does has violent tendencies.

201

916 reads

Placebo Effect

Placebo Effect

The power of the mind to bring about the desired effect from an ineffective treatment.

Example: In a clinical trial, 80% of those who took a sugar pill reported signs of improvement.

197

838 reads

Survivorship Bias

Survivorship Bias

Focusing on successes and ignoring failures.

Example: You assume entrepreneurship is easy because all you see are successful founders in magazines.

201

837 reads

Bystander Effect

Bystander Effect

We are less likely to intervene in a bad situation when there are more people around.

Example: Everyone just watched instead of calling 911 when the bar fight turned ugly.

200

724 reads

CURATED FROM

CURATED BY

aniyah_uj

"Money doesn't buy class." ~ Kiana Tom

This is the second part of 50 cognitive biases, as tweeted by Elon Musk. These are a must read for understanding human behaviour, including our own.

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The “IKEA effect”

The “IKEA effect”

If you make things more laborious, the consumers will value them more.

In the 1950s, a US food company wanted to sell more of its brand of instant cake mixes. They were advised to replace powdered eggs with fresh eggs because the all-instant cake mix makes baking too easy. It un...

The IKEA Effect

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...

Schedule Intentionally

If you want to free up your Friday and have it as a day of uninterrupted time that you can use however you’d like, you have to evaluate your weekly priorities and keep a close eye on your schedule.
Avoid to schedule meetings or other important things and keep on the table just casual stuff...

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