what are some examples of cognitive bias: Definition

what are some examples of cognitive bias: Definition

12 Cognitive Biases Explained - How to Think Better and More Logically Removing Bias What are examples of cognitive bias?

examples of cognitive bias

Cognitive biases are errors in thinking that influence how we make decisions, learn more about cognitive bias from examples, and test yours. cognitive bias

Some cognitive biases presumably served our hunter-gatherer ancestors well. ... a few examples: in previous weeks, like optimism bias and hindsight bias...What are the 12 cognitive biases?

what are some examples of cognitive bias: Definition

What are the 12 types of bias?

hey, guys practice psychology here and in this website were going to be talking about 12 cognitive biases most of these were

 researched by is one-off TV who has some great animations on topics like these and

 other self-development topics check them out in the description or on the end screen now let's get into it then. number one is.

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[1]What would be considered a cognitive bias?

 anchoring bias we humans usually completely rely on the first information that we received no matter how reliable that piece of information.

 when we make decisions the very first information has a tremendous effect on our brain, for instance, I want to sell you a car and you are interested to buy it lets say you ask me.
 what the prices and tell you thirty thousand dollars now if you come back a week later and I still sell it to you for twenty thousand dollars this seems like a new very cheap.

 price to you right because your judgment is based on the initial information you got which was 30,000 you feel like you re getting a great deal but let's say...

 the first time that you ask me and me say10,000 and then you come back the next week and I tell you im gonna sell to you for 20,000 now it doesn't look like a very good...

 deal because of the anchoring bias this is just very general use of the anchoring bias and I don't want a bunch of comments about why thirty thousand dollar cars should be sold for ten thousand dollars.

  another example is trees what if I asked you if the tallest tree in the world was higher or lower than1,200 feet and if so...

 how tall the same effect occurs if I asked you to guess out of thin air instead of giving you an anchor of 1,200 feet the results are crazy.

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[2] What are the cognitive biases?

availability heuristic bias people overestimate.
 the importance. of information that they have let me give you an example here, some people think that terrorism is the biggest.

 the threat to the United States because that's what they see on TV the news always talks about it and because of that it inflates the danger but if you look at it...
 the real perspectives televisions cause 55 times more deaths than terrorism yes TVs literally following people and kill them fifty-five more times.

 than terrorism youre more likely to be killed by a cow than a terrorist according to the Consumer Product Safety Commission its more.

 likely to die from a coconut falling on your head and killing you than a terrorist attack thanks to you, Gary Vaynerchuk, for that one even the police that are hired to protect.

 you from terrorists it's estimated that you were a hundred thirty times more likely to be killed by the police and by a terrorist that's because people do not make.

 the decision based on facts and statistics but usually they make it on news and stories and stuff they hear from other people it's way scarier too.

 die from a terrorist attack in a falling coconut and because of this usually, the news won't cover it because there's not much money in it.
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[3] What are the most common cognitive biases?

the bandwagon effect people do or believe in something not because of they actually.

 do believe it but because that's what the rest of the world believes in other words following the rest without thinking if you've ever heard someone say.

 well if your friends jump off a bridge would you then that someone is accusing you of the bandwagon effect it happens a lot with usI mean a lot of people vote for a certain.

 candidate in the election because he's the most popular or because they want to be part of the majority it happens a lot in the stock market too.
 if someone starts buying a stock because they think it's going to rise then a lot of other people are going to start picking the stock as well it can also happen.

 during meetings, if everyone agrees on something you are more likely to agree with him on that object in management the opposite of this is called groupthink.

  its something companies try very hard to turn because if nine out of ten people agree on something for the last person doesn't and won't speak up it could squelch a great idea.
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 [4] real-life examples of cognitive bias 

choice supportive bias so people have the tendency to defend themselves.

 because it was their choice just because I made the choice it must be right for example lets say a person buys apple products say it is a Mac Book instead of a windows pc.

 well, he's more likely to ignore the downsides or the faults of the apple computer while pointing out the downsides of the pc has more likely to notice...
 the advantages of the apple computer, not the windows computer would someone point out that they made a bad decision well let's say you have a dog you think...

 it's awesome because it's your dog although it might poop on the floor every now and then the same goes for political candidates,

 not the pooping parts but they both may suck but one of the lesser of two evils may be more right in your mind because you voted for them. 

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[5] confirmation bias examples

confirmation bias we tend to listen to information confirms. what we already know or even interpret the information that we receive in a way that confirms.

 the current information that we already have let's say that your friend believes that suites are unhealthy this is generally a pretty broad belief he.
 will only focus on the information that confirms what we already know is more likely to click on videos that confirmed that belief or read articles that support his argument.

 doesn't go through and type positive health effects of increasing blood glucose levels or positive effects of eating a bowl of ice cream on him.

 will instinctively go to google and type in how bad is sugar for you the confirmation bias is very dangerous in scientific situations and actually one of the most widely committed cognitive biases.
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Cognitive psychology focuses on the way people process information. In this lesson, you will gain an overview of the field of cognitive psychology.

[6] examples of biases:

 ostrich bias this is the decision or rather subconscious decision. to overlook the negative data it might likewise be a sign we just need to consider.

 the positive aspects of something this goes beyond are only looking for positive information but this is when there is negative information.

  we choose to ignore it as an outlier sometimes even when we have a problem we try to ignore it thinking it will go away let's say you have an assignment to doits, not something that.

 you really want to do so you may just keep on procrastinating with it because you reminding said it will go away or dissolved by ignoring smokers usually.

 they know its bad for their health but a lot of them keep ignoring the negative implications of cigarettes thinking it will not damage them or might stop.

 them before anything serious will happen because they consider themselves in our wire to avoid finding out negative information we just stop looking for it.

 this could be a serious crime in many scientific research laboratories and basically promotes ignorance.

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[7]real life examples of cognitive bias

result bias predisposition we will in general judge the adequacy of a choice based. basically on how things turn out after choice is made we infrequently look at...

 the conditions that existed at the time of the decision choosing instead to evaluate performance solely or mostly on whether the end result was positive or not in others.

 words you decide whether an action is right or wrong based on the outcome this goes a little bit into consequentialism but it goes hand-in-hand.

with the hindsight bias, let's say there's a manager who wants to take the decision his team and the data are telling him to make one decision.

  his gut is telling him to make another decision well he goes ahead and makes the decision that has got told him to do and then in the end it was.
 the right decision does that mean its actually better to trust your gut rather than listen to your team who is advising you based on facts and statistics.

 well, that's what the outcome biases you take the decision and bass the effectiveness of your decision on the outcome even if it was.

 Lucknow this is bad logical thinking and will actually lead you to ruin thinking and bad outcomes in the long run.

[8] overconfidence sometimes you get too confident and start.

 making decisions not based on facts but based on your opinion or gut because you have been correct so many times in the past, for example,

 you are a stock trader and you pick five stocks in a couple years all of them turn out to be successful and profitable it increases your confidence to a point where.
 you can start believing that whatever start you pick will be successful its quite dangerous because you might stop looking at the facts and solely rely on your opinion.

 check out the gambler's fallacy if you want more information on this just because you flip the coin five times and it landed on heads doesn't mean that.

 the next time there's more than fifty percent chance of it landing on ahead again ego is the enemy is a great book about this bias and I just made a book review on it.

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[9] examples of cognitive bias in everyday life

placebo bias when you believe something will have a certain.
 the effect on you then it will actually cause that effect, for instance, you are sick.

the doctor gives you a certain medicine even if that medicine does not actually help you even if it's just made of sugar you believe that it will help you and it actually causes.

 you to recover quicker this might not sound very logical but dozens of experiments have proven this that's why if you realize positive people usually.

 have a positive life and vice-versa the way you think is super important and we've hit on this in previous videos for the same reason a lot of personal development.

 books say that if you really believe something you will eventually achieve it or at least find a way to achieve it because of the placebo effect.

 will give you the motivation that needs the mind truly is a powerful thing and this actually is always bad thinking, in fact, you can use a placebo effect to our advantage.

 if we use it wisely there's actually a reverse of this and it's called the nocebo and this is when it is native.

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[10] cognitive bias examples quilt

 survivorship bias this bias is when you are judging something. 

based on the surviving information let me give you an example where there are a lot of articles titled like five things millionaires do every morning does.

 that means doing those things every morning will make you a millionaire know there are tons of people who did them and didn't become a millionaire.

  there are also tons of people who did them and did become a millionaire these articles are primarily based on the ones who survived and reject all.

 other people to do the same thing but did not become millionaires another example is to say that buildings in an ancient city were built using extreme.

 engineering because they lasted so long this is a bad conclusion because you aren't considering what ratio of buildings were built to how many that lasted.

 youre only seeing the ones that lasted thousands of years of weathering when the other ninety percent I've already washed away its hard to know what you don't know.

 [11]the selective perception of this one selective perception is a form of bias.

 that causes people to perceive messages and actions according to their frame of reference using selective perception people tend to overlook and forget.

 that contradicts our beliefs or expectations lets say for example youre a smoker and youre a big fan of soccer youre more likely to ignore.

 the negative advertisements about cigarettes because since you are already smoking you have this perception that it's.

 okay to smoke but there's an advertisement about soccer you are more likely to notice it because of you.

 have a very positive perception about it this is actually something really interesting and has to do with how you perceive the world due to your subconscious mind.

  what it filters out the last one is called the blindspot bias if I asked you how biased you are you would probably say that you are less biased than.

 the average person and you are more likely to base your judgment on facts and statistics and that's what's known as a blind spot bias or the bias your bias.

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[12] cognitive bias examples in business

 because you think that you are less biased about everyone else.  
 the example I guess its something to my teacher and the next week she gave me a good grade on a test if you ask her whether she was biased.

 when she gave me that grade the answer will be that the gift never affected her decision when marking my paper but if you ask her if other teachers are biased.

 when students give them gifts she will say yes in most cases and that's what the blindspot biases I really enjoyed creating this video but most of the content.

 was curated by my friend is gone off has got a website similar to mine and I'd like you to check it out here or in the next post,

 I hope you guys enjoyed this video and learn something if you want more valuables like this to check out my website and subscribe thanks for reading. 

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