We all have biases that we bring to the table, and to the relationships and interactions in our lives. That said, did you know that some of them are just due to the fact that we all have very human brains?
The first step to realizing that your mind might be trying to make decisions for you is being able to identify the biases your brain wants to use in order to make those choices – below are 5 that we’re all guilty of sometimes.
#5. Stereotyping Bias
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This is when we expect a person to behave or believe like a group, even though we have little-to-no direct information or previous experience with the individual.
#4. Blind-spot bias.
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Not noticing/admitting/recognizing your own cognitive biases.
We are usually much quicker to point out these biases in others.
#3. Information bias.
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The tendency to seek information when it does not affect action.
More information is not always better, and sometimes, less is more when it comes to accurate predictions.
#2. Outcome bias.
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Judging a decision based on the outcome, even if it would normally be a bad choice.
It’s like deciding that betting all your money in Vegas was a good idea because you won, even if the majority of the time, you’d lose.
#1. Ostrich effect.
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The tendency to ignore dangerous or negative information by burying one’s head in the sand.
For example, when markets are down, investors tend to check their accounts less often.
If you want to beat your biology, you have to be diligent!
Do any of these plague your decision-making? Share which ones in the comments!
