Keep reading for FREE
Within WYSIATI, people will be quick to seize on limited evidence that confirms their existing perspective. And they will ignore or fail to seek evidence that runs contrary to the coherent story they have already created in their mind.
Just ask yourself - "Why do we have certain beliefs or perspectives?"
System 1 comprises the oldest parts of the brain. It operates automatically and involuntarily. This system is always functioning and is responsible for most of the day-to-day activities. It is also responsible for our reactions to danger, novelty, and intuition.
System 2 allocates attention and completes tasks that require effort. System 2 is a newly evolved part of the brain, and only humans have a highly developed prefrontal cortex.
“Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.”
Anchors are arbitrary values that we consider for an unknown quantity before encountering that quantity.
Anchors are known to influence many things, including the number of money people are willing to pay for products they have not seen.
So before choosing the anchors, just research about the thing then decide.
System 1 loves to use limited information to form quick judgments and then block out conflicting information. The author Daniel Kahneman calls it W‐Y‐S‐I‐A‐T‐I (What You See Is All There Is).
Kahneman explains that System 1 sees two or three pieces of information and then “infers and invents causes and intentions then neglects ambiguity and suppresses doubt.”
Just try to ask “Why might the opposite be true?”
“Intelligence is not only the ability to reason; it is also the ability to find relevant material in memory and to deploy attention when needed.”
In this type of case you just need to use your system 2 and spend some time with it. And you will get the answer as $1.05 for bat and 5 cent for the ball.
Now the ball is $1 more than the bat.
Try to solve this problem -
"A bat and a ball cost $1.10 in total. The bat costs $1.00 more than the ball. How much does the ball cost?"
If you say $1 for the bat and 10 cent for the ball, then it's wrong because you just used the system - 1.
(Answer is given in the last idea of the article.)
The bias of availability happens when we give too much weight to recent evidence or experience.
If we don’t check for the ‘Availability Bias’ (or what psychologists call the mere‐exposure effect) prior to an important decision, then our preference will be based on environmental conditioning.
So before each decision just ask “Is this the best option or just the option I've been frequently exposed to?”
Ask yourself “If I flipped a coin and could lose $100 on tails or win $150 on heads, would you take the bet?” Did you feel a slight hesitation to the gamble? Most people do, even though it’s a reasonable bet to take.
Losses loom larger than gains - relative to a reference point, a loss is more painful than a gain of the same magnitude.
“Nothing in life is as important as you think it is, while you are thinking about it”
“The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.”
System 1 defaults to choices that maintain the status quo because System 1 psychologically weighs losses twice as much as gains (loss aversion). System 1 is emotionally attached to objects it owns or invests in (the endowment effect) and overvalues the status quo.
You can ask yourself - “What opportunities do I lose by maintaining the status quo?” (or, “If I continue to say yes to this, what am saying no to?”)
Imagine that there is an outbreak of a deadly disease that will kill 600 people and you must choose between the two options -
You may choose option 1 due to loss aversion. If you think through the choices, you can see that the probabilities of each are identical. This is called the framing effect.
“A reliable way to make people believe in falsehoods is frequent repetition because familiarity is not easily distinguished from truth. Authoritarian institutions and marketers have always known this fact.”
MORE LIKE THIS
Ready for the next level?
Read Like a Pro
Explore the World’s
Take Your Ideas
Just press play and we take care of the words.
No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.
2 Million Stashers
Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.
This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!
Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.
Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.
Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.
I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!
Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.
Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.
Read & Learn
Access to 200,000+ ideas
Access to the mobile app
Unlimited idea saving & library
Unlimited listening to ideas
Downloading & offline access
Claim Your Limited Offer
Get Deepstash Pro
75% OFF | 1-Year Pro Subscription