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Saturday, December 14, 2013

The 12 cognitive biases that prevent you from being rational

"The human brain is capable of 1016 processes per second, which makes it far more powerful than any computer currently in existence. But that doesn't mean our brains don't have major limitations. The lowly calculator can do math thousands of times better than we can, and our memories are often less than useless — plus, we're subject to cognitive biases, those annoying glitches in our thinking that cause us to make questionable decisions and reach erroneous conclusions. Here are a dozen of the most common and pernicious cognitive biases that you need to know about....."

Confirmation Bias
Ingroup Bias
Gambler's Fallacy
Post-Purchase Rationalization
Neglecting Probability
Observational Selection Bias
Status-Quo Bias
Negativity Bias
Bandwagon Effect
Projection Bias
The Current Moment Bias
Anchoring Effect"

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