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Infographic: 20 Cognitive Biases That Screw Up Your Decisions

Infographic: 20 Cognitive Biases That Screw Up Your Decisions

So you think that you’re a rational person and that those psychological tricks that work on the masses won’t work on you? Well, the following infographic might shake your confidence.

Interestingly enough, the brain often likes playing tricks on us, whether we want it to or not. Before we get into the infographic, let me introduce you to some of the main cognitive biases upon which these tricks are based.

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Anchoring

When making decisions, we tend to rely too heavily on the first piece of information we receive. This fact is often exploited in marketing, particularly online. How many times have you come across something along these lines: “Buy this new product, which is normally priced at $299 for a limited-time price of $49!” That’s a phenomenal bargain, right? Once your brain is anchored to a price of $299, the $49 you might have balked at before sounds much cheaper. How often are you being anchored in your daily life?

Confirmation Bias

We tend to look for information that confirms what we believe. This is referred to as confirmation bias, and is precisely what gets us mired in our current beliefs. Our minds seek information that supports what we think, so it is hard to adopt new thoughts and beliefs. Conspiracy theorists are a perfect example of this. They often twist facts and disregard that which challenges their theories. They seek evidence that confirms their assumptions and, sure enough, they manage to find plenty of it. That said, not every conspiracy theory is automatically wrong.

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Placebo Effect

If you believe in something strongly enough, it may enter reality to a certain extent. The most famous example of the placebo effect is arguably the case of Mr. Wright, a terminally ill patient who had been given less than 2 weeks to live. The release of a new drug called Krebiozen gave him hope, and his health improved rapidly upon taking the drug.

Unfortunately, reports that the medicine might be ineffective arose, and Mr. Wright’s health suddenly deteriorated when he learned of this. His doctor noticed the pattern and decided to administer placebo injections consisting only of water while telling Mr. Wright that the injections contained a new and improved version of the medicine.

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Mr. Wright’s health improved dramatically while taking the placebo. Sadly, the American Medical Association ultimately announced that Krebiozen was completely ineffective in the treatment of cancer. Mr. Wright resultantly lost hope and died within a few days of this revelation.

Clustering Illusion

This is the tendency to see patterns in random events that are not truly related. Our mind is designed to spot patterns everywhere, even when there is no scientific evidence for them. Take sports, for instance. Sports fans often think that they can predict the success or failure of their favorite player. If they see LeBron scoring multiple free throws in a row, they start to think that he will make the next shot as well. In reality, research has shown that there is little to no link between any of the free throws, even when they occur successively.

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Survivorship Bias

Survivorship Bias occurs when we fail to adequately consider failure rates when making decisions. There are scores of entrepreneurs who failed, painters who died in poverty, and inventors who were never successful, but how often do we hear their stories? Rarely, because nobody likes to hear stories that end in failure. Such stories can be sad and depressing, but they are part of reality. Have you ever experienced Survivorship Bias in your life?

Now that you’re familiar with the most common cognitive biases, check the infographic below for more information. Are there any that have tricked you recently?

bi_graphics_20-cognitive-biases-that-screw-up-your-decisions

    Featured photo credit: 20 cognitive biases that screw up your decisions via businessinsider.com

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    Last Updated on November 5, 2018

    8 Powerful Reasons to Love Your Enemies

    8 Powerful Reasons to Love Your Enemies

    We’ve all got our enemies; people who take pleasure in causing us pain and misery. Sometimes, the development of an enemy is due to certain differences in your characters and events have led to that. Other times, some people end up hating you for apparently no reason at all.

    Regardless of how you got this enemy, as opposed to the paradigm of fighting fire with fire, consider the following reasons and see why you should actually appreciate your enemies. This article will show you not only how to not be bothered by your enemies, but how to actually foster love for them.

    Read on to learn the secret.

    1. It’s a practical lesson in anger management

    To be honest, your enemies are the best people to help you understand your sense of anger management. When it might be true that your enemies have a way of bringing out the worst in you as regards anger, it is also true that they can help you in your quest to have that anger managed. You can’t get truly angry at someone you love and it is only in that time when you get truly annoyed that you learn how to manage it.

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    Anger management is more effective when it is in practice and not in theory

    Your enemies are like the therapists who you need, but actually don’t want. Inasmuch as you might want to hate them, they provide you an opportunity to control the anger impulse that you have.

    2. It’s an opportunity for healthy competition

    You might not know it, but your enemies make for great rivals as they help harness the competitor in you (sometimes, you might not even know or bee conversant with this competitive side until you come across an adversary). You get the right motivation to compete and this can go a long way to spur you to victory.

    However, while doing so, it is also essential that you remember not to become a worse version of yourself while competing. Working against an adversary is tricky, and you need to ensure that you don’t cause harm to yourself or your morals in the process. Healthy competition is all you need to get out of this.

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    3. Their negative comments can help you make a breakthrough

    It is true that your enemies never really have much good to say about you. However, in as much as they might be talking out of a place of hate, there might be some truth to what they’re saying.

    To wit, whenever you hear something mean or nasty from an enemy, you might want to take a step back and evaluate yourself. There is a chance that what this enemy is saying is true and coming to face that fact is a major step in helping you to become a better person overall. This is another testament to the fact that enemies can be therapists in their own way.

    4. Enemies can also be powerful allies

    Loving your enemies can also mean making an effort to interact and make peace with them. In the end, if you are able to establish some common ground and patch things up, you’ll have succeeded in making another friend. And who doesn’t need friends?

    This can also help you in working with people in the long run. You get to hone your inter-personal skills, and that can be a big plus to your ledger.

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    5. It gives you the ability to realize positivity

    In a multitude of negativity, a speck of positivity always seems to find its way through.

    Sometimes, a knowledge of the fact that you have enemies will also help you to focus on the many positives and good things that are in your life. A lot of times, we neglect what really matters in life. This can be due to being overly concerned with the enemies we have.

    However, it is also possible for this acknowledgement to spur you to take a step back and appreciate the goo things (and people who surround you).

    6. There might just be a misunderstanding

    Sometimes, the reason why you have an enemy might be something very innocuous. You might not have known the cause of this fractured relationship and your enemy will help complete the picture.

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    Simply approaching them will help you to understand the reason for the fracture. This, in turn, can help you to work towards healing your relationship moving forward. Misunderstandings happen, and you need to be able to work around them.

    7. You learn to appreciate love as well

    A constant reminder of the fact that there are enemies will also help you not to take those who love you for granted. Love and hate are two opposing emotions and it is possible for one to momentarily overshadow the other.

    However, while you’ll always have enemies, there will also always be people who love you. These people need to be appreciated for what they do for you. Never let the hate projected to you from your enemies take the place of that.

    8. Do you really need the hate?

    The truth is that enemies bring only toxic emotions and generate bad reactions from you. If you’re truly to live a prosperous life, you can’t really be carrying all this baggage around.

    Hate is bad and you should try all you can to get rid of it. It is a well-known fact that nobody can get really far in life while carrying a lot of emotional baggage. Well, hate is the biggest form of emotional baggage there is.

    Featured photo credit: rawpixel via unsplash.com

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