Most people are likely to blame bad luck for a bad outcome and credit skill for a good outcome. This is motivated reasoning. Motivated reasoning is the tendency to process information to get to the conclusion we want (rather than the truth). Motivated reasoning might be comforting, but it hinders your ability to learn from your experiences and make better decisions. In the long run, it’s better to be accurate in how you perceive the world, so that you can make better decisions.
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Similar ideas to Biases: Motivated Reasoning
We make decisions based on the information that we have. However, we tend to be more reliant on the negative more than the positive. This causes two outcomes:
Risk aversion – where we prefer an assured outcome over a gamble with a higher expected outcome; and
...Misunderstanding how much information we actually use to make our judgments has important implications beyond making good or bad decisions.
An example could be our tendency to rely on stereotypes when judging other people: we may believe we'll consider information from all the ang...
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