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Survivorship Bias
It's our tendency to concentrate on the people who end up winning —the survivors—and mistakenly assume that ambitious goals led to their success while removing from pur view all of the people who had the same objective but didn’t succeed.
When you solely focus on success, survivorship bias comes out to play and causes you to think that something is easy because you only hear stories of people who triumphed.
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Biases...
... specifically cognitive biases, are your unchecked tendencies to make decisions or take actions in an irrational way.
Instead of making decisions based on facts and data, you are more prone to base your decisions on unconscious errors that lead to a distorted judgment of the worl...
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Biases = shortcuts for processing information
The brain creates shortcuts in order to make fast decisions when it hits information or inspiration overload.
These shortcuts form unconscious biases so it’s easier for your brain to categorize information and make quick judgments over and over again.
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Self-serving Bias
It causes you to claim your successes and ignore your failures.
This means that when something good happens, you take the credit, but when something bad happens, you blame it on external factors.
Self-serving bias may manifest at work when you receive critical feedback....
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Confirmation Bias
Is the tendency to trust information that confirms your preconceptions. At the same time, you ignore or dismiss opinions that disagree with your own, even if they are factual and valid.
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Anchoring Bias
The tendency to rely heavily on one piece of information (often the first thing you hear) when making decisions.
This is why it pays off to be the first one to offer a bolstering range instead of a firm number when negotiating your salary. The first offer will establish the possibilities i...
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Bandwagon Bias
It occurs when you adopt a belief just because more people hold that belief. This bias can lead to groupthink, which is the tendency for group members to over-conform to a leader.
Many work meetings become unproductive due to bandwagon bias and groupthink because team members don’t f...
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The Bias Blind Spot
This is the failure to recognize the impact of bias on your own judgment.
Despite the extensive research and data supporting the existence of our cognitive biases, many of us disagree and even ignore the effects of bias in our lives even when we’re fully aware of it.
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Planning Fallacy
The tendency to underestimate how long tasks will take to complete.
On top of it, instead of accepting your own fault, you place the blame on outside factors such as delayed start dates or sick days.
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Goal setting and survivorship bias
We concentrate on the people who end up winning 🥇 —the survivors—and mistakenly assume that ambitious goals led to their success while overlooking all of the people who had the same objective but didn’t succeed.
Survivorship Bias
Survivorship bias is a logical error that twists our understanding of the world and leads to a wrong understanding of cause and effect.
We fall into survivorship bias when we assume that success stories tell the entire story of a product/business, while we don't properly consider past fail...
2. Survivorship Bias
After reading Gates’ and Musk’s life stories, people seem to fall for the successful dropout myth , because if they can do it, why can’t you?
These stories might expose a fallacy in judgement because in reality, for one success story...
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