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3351

Complexity bias
(reading time – 1 min.)

Complexity bias is the belief that complex solutions are better than simple ones.
The term denotes an irrational preference for complexity over simple approaches that are faster, cheaper and safer.

The following are common examples:

Jargon
The assumption that someone knows what they are talking about because they use obscure terminology and big words.

Math
The assumption that complex math must be accurate and more valuable than a qualitative insight.

Software
A preference for highly complex software to satisfy requirements that are comparatively simple.

Topic: #CognitiveBiases
Source: simplicable.com


12:12 23.10.19
8909

Begging The Question
(reading time – 1 min.)

You presented a circular argument in which the conclusion was included in the premise.

This logically incoherent argument often arises in situations where people have an assumption that is very ingrained, and therefore taken in their minds as a given. Circular reasoning is bad mostly because it's not very good.

Example: The word of Zorbo the Great is flawless and perfect. We know this because it says so in The Great and Infallible Book of Zorbo's Best and Most Truest Things that are Definitely True and Should Not Ever Be Questioned.

Topic: #LogicalFallacy
Source: yourlogicalfallacyis.com


14:02 22.09.19
16.06K

Scarcity bias
(reading time – 1 min.)

The more difficult it is to acquire an item the more value that item has. When there is only a limited number of items available. The rarer the opportunity, the more valuable it is.

People assume that things that are difficult to obtain are usually better than those that are easily available. They link availability to quality. On “Black Friday”, more than getting a bargain on a hot item, shoppers thrive on the competition itself, in obtaining the scarce product.

In a famous study, one group of participants were given a jar with ten cookies, a second group was given two cookies, and a third group was initially given ten cookies, which were then reduced to two cookies. when asked the participants to rate their cookies, the third group rated their cookies the highest.

Topic: #CognitiveBiases
Source: Wikipedia


19:07 11.08.19
16.95K

Band Wagon Effect
(reading time – 40 sec.)

Band Wagon Effect is a cognitive bias which explains the impulse to choose certain option or follow particular behaviour, because other people are doing it. This leads to a dangerous cycle, as more people continue to follow a trend makes it more likely that other people hop on the band wagon.

For example, people might buy a new electronic item because of its popularity, regardless of whether they need it, can afford it or even really want it.

Topic: #CognitiveBiases
Source: investopedia.com


14:02 06.07.19
20.82K

Groupthink
(reading time – 1 min.)

Groupthink is a psychological phenomenon that occurs when decisions are made due to the unified nature of decision-makers. It happens when the decision-makers strive for unanimity, and this overrides their motivation to consider alternative views. As a result, independent thinking is lost.

As an example consider the bombing of Pearl Harbor. Many of the senior officers at Pearl Harbor did not take warnings from Washington DC about potential invasion seriously despite the fact that Japanese messages had been intercepted. Those who didn't take action believed that the Japanese wouldn't dare to attempt an assault against the U.S. because they would recognize the futility of war with the United States.

Topic: #CognitiveBiases
Source: Wikipedia


17:05 31.05.19
19.29K

Attentional bias
(reading time – 40 sec.)

Attentional bias is the tendency for people's perception to be affected by their recurring thoughts at the time.

For example, smokers tend to possess a bias for cigarettes and other smoking-related cues around them, due to the positive thoughts they've already attributed between smoking and the cues they were exposed to while smoking.

Topic: #CognitiveBiases
Source: Wikipedia


11:11 27.04.19
20.90K

Base Rate Fallacy
(reading time – 50 sec.)

Base rate neglect is the tendency for people to mistakenly judge the likelihood of a situation by not taking into account all relevant data.

Lots of food companies exploit the Base Rate Fallacy on their packaging. When something says "50% extra free," only a third (33%) of what you're looking at is free. If you think half of what you're looking at is free, then you've committed the Base Rate Fallacy. For example, when you buy six cans of Coke labelled "50% extra free," only two of the cans are free, not three. (It's because the original pack had four cans, and 50% of the original amount is two cans.)

Topic: #CognitiveBiases
Source: howtogetyourownway.com


15:03 30.03.19