15 Common Cognitive Biases That Many People Have

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confirmation bias | examples of biases | cognitive biases in decision making

Let’s solve a quick math problem. A bat and a ball cost $1.10. The bat costs $1.00 more than the ball. How much does the ball cost? Ten cents, right?  At least that’s what first came to mind for me when reading this first question in a series of three in the Cognitive Reflection Test. … Read more

9 Bandwagon Fallacy Examples to Prevent Poor Decisions

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Thinking back to your childhood, do you remember your parents ever asking you, “If all of your friends jumped off a bridge, would you do it too?” I know this fictional scenario was often presented to me when I argued to do something “because everyone else was doing it” but it didn’t often work very … Read more

How Jeff Bezos Uses the Regret Minimization Framework to Make Hard Decisions

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Think about the last time you made a decision. But not just any decision–one that involved a pretty significant trade-off one way or another. For me, it took me about five years to make the hard life decision to quit my very comfortable (yet unrewarding) job and go back to school to get my master’s … Read more

7 Ways to Overcome the Sunk Cost Fallacy Mindset

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sunk cost fallacy | sunk cost fallacy mindset | sunk cost fallacy examples

Do you often find yourself continuing on a path that doesn’t feel right, only because you’ve already invested so much time or money into it? You might strongly dislike what you’re doing, but you feel like you have to stay the course because you can’t imagine doing anything differently. If this sounds familiar, then you’re … Read more

10 Free Decision Matrix Templates to Make the Best Life Choices

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There are different ways to make decisions. To arrive at a thorough, well-thought-out choice—especially when you’re bombarded with a ton of options, someone is trying to influence the outcome of your choice, or it is a matter that will affect your whole life—you need to forego subjective methods such as listening to your gut or … Read more

Mere Exposure Effect: Definition & 5 Examples

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It is widely accepted that people resist change. Instead, people prefer to find security in familiar approaches to life–which makes sense from an evolutionary standpoint, considering humans once perceived new stimuli to be a threat to their safety. The fear of the unknown has always had a huge impact on people’s decision making. And the … Read more

85 Critical Thinking Questions to Carefully Examine Any Information

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sample critical thinking questions | psychology critical thinking questions | critical thinking questions definition

The ability to think critically will often determine your success in life. Let’s face it. Every day, we are bombarded by news, social media updates, and an avalanche of information. If you take all of this at face value, it’s easy to be deceived, misled or ripped off. That’s why it’s important to develop a mindset … Read more

5 Ways to Use Choice Paralysis to Your Benefit

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One of my least favorite questions to hear from friends or family is: Where do you want to go for lunch? I…uh…I don’t know…I want whatever you want. With such a wide range of places to eat around here, I don’t want to commit someone else’s lunch plans to a place they don’t like just … Read more

6 Outcome Bias Examples That Can Negatively Impact Your Decisions

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outcome bias | outcome bias example | positive outcome bias

Let’s say you’re ready to learn a new hobby–and since your buddies seem to enjoy their poker nights, learning how to play this game will allow you to get in on the fun. But you’ve got some catching up to do when it comes to knowing how to strategize, so you decide to take some … Read more

7 Self-Serving Bias Examples You See Throughout Life

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When something good happens, people tend to think: “I worked so hard, I’m so talented, I did a great job!” But when things go wrong, people often start taking a mental account of any external factors that could be to blame. Can you think of a time when you were quick to take credit for … Read more