Distinction Bias: we place more value on... - Deepstash

Distinction Bias: we place more value on the difference between two options when comparing them than we would if we were evaluating them separately.

Framing Effect: people are influenced by the way information is presented, 20% fat or 80% fat free.

Confirmation Bias / Continued Influence: we unconsciously focus on things that align with what we believe.

Post-Purchase Rationalization / Choice-Supportive Bias: after making a choice, we overvalue positive attributes of the choice and forget the negative attributes of the choice.

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prince_rahul

"A good idea should be like a girl's skirt; long enough to cover the subject and short enough to create interest."

A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them and affects the decisions and judgments that they make. Can be used in Marketing ...

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The many faces of the memory bias

  • Rosy retrospection bias. We often remember the past as having been better than it really was.
  • Consistency bias. We wrongly remember our past attitudes and behaviour as similar to our present attitudes and behaviour.
  • Mood-congruent ...

6 of the largest decision-making blunders

6 of the largest decision-making blunders

  1. Sunk-cost fallacy. Present yourself with the new options at hand -- without considering the sunk cost.

  2. Narrow framing. When we're in situations that will repeat themselves over time, we should take a step back and play a game of averages...

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