to upgrade
Ideas from books, articles & podcasts.
It's our tendency to place importance on the first figure that we hear or see and tends to greatly affect our decisions, estimates or predictions.
Negotiators use this tactic and start with an extremely high or low number, anchoring the subsequent deal in their favour.
STASHED IN:
276
MORE IDEAS FROM THE SAME ARTICLE
It makes us certain without a doubt that if the flipped coin lands a heads up five times consecutively, it will land as tails up the sixth time. The real odds still stand at 50-50 for each flip.
Sunk-cost thinking makes us stick with a bad decision due the investments already made.
Cognitive Biases are a collection of faulty and illogical ways of thinking which are hardwired in the brain, most of which we aren’t aware of.
It's a tendency to heavily weigh the moment which is closer to the present, as compared to something in the near or distant future.
This is one of the most common and dangerous ones, and is related to our beliefs. It leads us to ‘confirm’ what we already know, believe or suspect when any new piece of data comes in the light. If there is an alternate or conflicting piece of evidence, we tend to sideline, ignor...
36 Reactions
Comment
created 8 ideas
235
Comment
20.2K reads
created 10 ideas
109
Comment
14.9K reads
❤️ Brainstash Inc.