Cognitive Bias: The Other End Of Heuristics - Deepstash





What are 'heuristics'?

Cognitive Bias: The Other End Of Heuristics

When our heuristics make us do unreasonable things and ignore obvious dangers, it is termed as a cognitive bias, a systematic error that is based out of our unawareness.

These systematic thinking patterns form the mental models that make us perform automated functions, and blind our views towards reality.




Economic rationality
Economic rationality

We usually think about rationality as being sensible or reasonable. For economists, rationality means when you make a choice, you will choose the thing you like best. Economic rationality a...

'Rational choice theory' and 'Bounded rationality theory'
  • Rational choice theory thinks of people as economic super-men and women, also known as homo economicus. Economists use this theory to think about what 'economic man' would do, then add up the actions of billions of people to make models about how the economy works.
  • Bounded rationality theory looks at the ways we don't or can't act like homo economicus. It sees people as rational but limited by the information they possess and their ability to process that information.
John F. Kennedy

"As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but ..."

John F. Kennedy
Stop being determined to fail

Stop making things not work for you. Stop looking for reasons why it doesn't work or why it will never work for you, instead figure out a way to make good things happen for you.

Whenever we try to make changes in our lifestyle, sometimes we doubt ourselves that maybe we can't do it or it isn't suitable for us. Why does it happen? It isn't because of fear but because we don't believe in ourselves. We aren't confident enough to keep pushing through to do the things we should.

Believe in yourself more

No idea will work for every single person, but a lot of them can work for most people as long as you believe that you can make them work. Stop wasting your energy to worry. Use the what you have to create and grow from what you've learned.

You need to put more trust in yourself and believe in the process of things. If one thing doesn't work for you then just experiment with new ideas and get through the day until you discover a way to make it work.

Mastery Also Involves Boredom
Mastery Also Involves Boredom

Mastery does not happen by chance. If you want to fulfil your potential, you must practice consistently at a specific skill over a long time. But the top performers in any craft also figure...

How to Fall in Love With Boredom

There is little hope of falling in love with a habit you really hate. If you dislike exercising, but you know it's good for you, you have two options to fall in love with the repetitiveness of the routine:

  • You can increase your proficiency at the task. Learn the basic fundamentals of your task and celebrate the small wins and improvements you make.
  • You can fall in love with a result of the task rather than the task itself.
The Power of Patience

Success is often found by practising the fundamentals that everyone knows they should be doing, but they find it too tedious or simple to practice regularly.

A blend of patience and consistency creates the ultimate advantage.