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Khalid Faez
@khalid_faez
The hipster effect
The hipster effect is when people who oppose mainstream culture find out that their unique choices are similar to millions of other people. In an attempt to be different, they all end up looking the same.
Similar effects show up among investors and in other areas of the social sciences.
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Maryadonna
@maryadonna
The Bandwagon Effect: Why People Tend to Follow the Crowd
The bandwagon effect
It's a cognitive bias that causes people to think or act in a certain manner because they believe that other people are doing the same.
For example, the bandwagon effect might cause...
Examples of the bandwagon effect
- The bandwagon effect can influence people’s political choices.
- It can influence consumers’ decisions regarding which products to buy.
- It can influence users’ decisions regarding how to rate stories or comments.
- It can influence investors’ financial choices.
- It can influence doctors’ medical decisions.
- It can influence organizations’ implementation of new technologies.
Why the bandwagon effect happens
It serves as a mental shortcut that people instinctively use in order to make a decision quickly.
Specifically, bandwagon cues, which are signs that other people believe something or are doing something, can trigger the thought that “if other people like this, then I should too”.
Mohamed Byrne
@mbyrne20
Selfishness Is Learned - Issue 37: Currents - Nautilus
Understanding morality
Psychologists do not understand human moral behavior, because it seldom makes any logical sense.
Using moral philosophy and psychology, biology, economics, mathematics, and computer science, ...
Our default mode
Through a series of experiments, it was discovered that despite the temptation to be selfish, most people show selflessness.
This is particularly true when subjects were forced to make their decision under time pressure; people are prone to cooperation when they rely more on intuition.
Creating quantitative models
Most of the psychological theories are verbal, but words can be imprecise. If "cooperation is intuitive", it needs to state when. And what does "intuitive" mean?
In order to solve this, computer simulations of society were developed.
Antonio V.
@antoniov502
The Four Villains of Decision Making
Not Making Good Decisions
- We are quick to jump to conclusions because we fail to search for information that might disprove our thoughts.
The Four Villains of Decision Making
- Narrow framing: The tendency to define our choices in binary terms. We ask, "should I, or shouldn't I?" instead of “What are the ways I could...?”
- Confirmation bias: People tend to select the information that supports their preexisting attitudes, beliefs, and actions.
- Short-term emotion: When we’ve got a difficult decision to make, our feelings occupy our minds. And this doesn't add any new information that could benefit us.
- Overconfidence: People often think they know more than they actually do about how the future will unfold.
Defeating Decision-Making Villains
- Counter narrow framing by widening your options. Expand your set of choices.
- Confirmation bias leads you to gather self-serving information. Analyze and test your assumptions to overcome the bias.
- Short-term emotion will tempt you to make the wrong choice. So distance yourself before deciding.
- Prepare to be wrong. Don't be overconfident about how the future will unfold.
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