IKEA Effect: we place more value on... - Deepstash

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 information better when we have to put in work to understand it.

Endowment Effect: we are more likely to keep something we already have than we would be to get the same thing if we didn’t already have it.

Backfire Effect: if we reject evidence that goes against what we believe then we will believe even more strongly in what we already believe.

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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 ...

Similar ideas

Common Biases

  • Actor-Observer Bias: the way the explanation of other people’s behaviour tends to focus on the influence of their personality while being less focused on the situation while being just the opposite while explaining one’s own behaviour.
  • Zeigarnik Effect

Common cognitive biases

  • The Dunning-Kruger Effect: You believe that you're smarter or more skilled than you are, which prevents you from admitting your limitations and weaknesses.
  • Confirmation Bias: When you welcome information that you agree with while disregarding evide...

Cherry-picking information

Cherry-picking information

Confirmation bias, means we’re more likely to notice stories or facts that fit what we already believe (or want to believe). So, when you search for information, you should not disregard the information that goes against whatever opinion you might have in advance.

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