Neglect of Probability: neglecting a relatively small... - Deepstash

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Neglect of Probability: neglecting a relatively small chance that something will happen. Not wearing a seatbelt because there is a small chance of an accident happening.

Anecdotal Fallacy: evidence based entirely on personal experience without real evidence.

Illusion of Validity: we overestimate our ability to make decisions based on data.

Gambler’s Fallacy: thinking that something will not happen soon in the future if it has happened many times in the past.

Hot-Hand Fallacy: thinking that a person with success in the past is also going to have success in the future.

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Social Desirability Bias: in conversation with others, we answer questions in a way we think will make the other person happy, personally and professionally.

Third-person Effect: we overestimate the effect that mass communication has on others, but underest...

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Reverse Psychology / Reactance: promote a belief or behavior that is opposite to the desired behavior, the person is then more inclined to start doing the opposite (the desired).

Decoy Effect: people tend to make a certain choice between two options if give...

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Sunk Cost Fallacy: something paid for that cannot be reversed. Past costs incurred are no longer relevant to future decisions.

Irrational Escalation: continuing what you were doing despite having negative outcomes because it is in line with past decisions a...

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Conjunction Fallacy: we think something is more likely to happen if it contains a specific condition (loses the first set, but wins the match) than if it is presented as a general event (wins the match).

Law of Triviality: focusing on non-important details ...

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Planning Fallacy: we underestimate the time a task will actually take from us, outsiders overestimate the time others need for a task.

Pro-innovation Bias: not seeing the limitations and weaknesses of a particular innovation, only wanting to implement the i...

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Automation Bias: preference of suggestions made by an automated system, even if a non-automated suggestion is better.

Bandwagon Effect: adopting a certain behavior, belief, style or attitude because others do it.

Placebo: believing so...

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Well Traveled Road Effect: estimating route times differently because you are unfamiliar with the route. Routes traveled more often seem to take less time than new routes.

Mental Accounting: we put a value on something we have earned that is based on how we...

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Cue-Dependent Forgetting: remembering certain things by thinking of equivalent memories.

Frequency Ilussion / Baader-Mein...

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Normalcy Bias: we underestimate things that might come, sometimes we don’t even believe they are going to come. For example, think of a car accident or a natural disaster.

Zero Sum Bias: thinking that if one thing goes up that another will go down.

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Risk Compensation: we become more cautious when risk is high and become less cautious when we feel confident and secure.

Hyperbolic Discounting / Instant Gratification: we prefer a reward if we get it sooner, we unconsciously attach a discount to a reward t...

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Dunning-Kruger Effect: people without skills overestimate their own ability, people with lots of skills underestimate their own ability.

Egocentric Bias: we place too much value on our own perspective and opinion.

Optimism Bias: think...

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Primacy Effect: we best remember information presented first.

Memory Inhibition: we don’t remember much of irrelevant information.

Modality Effect: the way knowledge is presented contributes to how well the knowledge is remembered. In...

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Selective Perception: we ignore certain things if they are not in line with what we believe.

Observer-Expectancy Effect: people behave differently when someone is watching them.

Experimenter’s Bias / Observer Effect: a researcher can,...

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Functional Fixedness: using an object only for the way it traditionally should be used.

Self-licensing: increased self-confidence makes an individual more likely to engage in undesirable behavior because they believe there are no consequences.

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IKEA Effect: we place more value on products that we have helped create.

Zero-Risk Bias: we prefer to reduce risk on subcomponents than remove a greater amount of risk over the whole.

Processing Difficulty Effect: we remember informat...

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Self-serving Bias: we want to keep our self-esteem high, therefore we think that success comes from our own ability and we write off mistakes to external factors.

Illusion of Control: we overestimate our ability to influence certain events.

Il...

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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.

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151 Cognitive Biases

Attentional Bias: subconsciously we choose points where we pay attention to. A smoker is more likely to notice other people smoking.

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Picture Superiority Effect: we remember pictures better than text.

Self-Reference Effect: things we feel related to we remember better.

Negativity Bias: people are more likely to be attracted to negativity.

Anchoring:

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Information Bias: more information is not always better; we think we make better choices when we have more information, but that is often not the case.

Ambiguity Bias: we prefer options that have a higher probability of success than options whose probabilit...

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Illusory Correlation: seeing a correlation between two variables that are unrelated.

Pareidolia: seeing patterns or objects in something that are not there. For example, seeing shapes in the clouds.

Anthropomorphism: personifying an a...

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Illusion of Transparency: we assume that others know how we feel.

Curse of Knowledge: while communicating with others we think they know the same as us.

Spotlight Effect: people feel watched, much more than they are actually watched.

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Serial Recall Effect: our ability to recall items or events in order.

Misinformation Effect: our ability to adjust memories of events after hearing information after the event has occurred.

Peak-end Rule: the value we place on a memor...

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Naïve Cynicism: we think people are more selfish than they really are.

Naïve Realism / Bias Blind Spot: we think we see the world objectively and that others who don’t see it the same way are misinformed, irrational or biased.

Clustering Illus...

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Absent-mindedness: people have three reasons for not paying attention or forgetting things:

  • Lack of attention
  • Tunnel vision on one item and forgetting the rest
  • Distraction by external factors

Testing Effect: things are sent ...

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Illusion of Assymetric Insight: we think we know others better than others know themselves.

Rosy Retrospection: people judge the past as more positive than the present.

Hindsight Bias: we think past events were more predictable than t...

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Halo Effect: people, companies, brands or products are judged by their past performance or personality, even if the current or future situation has nothing to do with it.

Cheerleader Effect: individual people are more attractive in a group.

Po...

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Fading Affect Bias: memories with negative associations are forgotten faster than positive memories.

Negativity Bias: we are much more attracted to negativity.

Prejudice / Stereotypical Bias: we prejudge people based on the group we p...

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Cryptomnesia: we see something somewhere and later remember it as something we did or made ourselves.

False Memory: remembering things we think we made, but which in fact never happened.

Suggestibility: we are willing to accept sugges...

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CURATED FROM

CURATED BY

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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Using Rules And Filters

  • Filters help us prioritize and figure out what makes sense. When we know what we want, we need criteria to evaluate alternatives. Ask: What are the most critical (and knowable) factors that will cause what I want to achieve or avoid? Criteria must be based on evidence and b...

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