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Loss Aversion and the Big Picture: List of Biases in Judgment and...
I think I’m going to make a habit of posting something new to my series on biases in judgment and decision-making every Monday. Last Monday, we looked at sunk costs. Today, we’re going to look at loss...
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Get a Second Opinion Before You Succumb to the Planning Fallacy: List of...
I know that I said that I was going to be talking about a new bias in judgment and decision-making every Monday and I know that today is Tuesday. To be honest — I underestimated how long it would take...
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Perspective and the Framing Effect: List of Biases in Judgment and...
Since I was going to talk about the framing effect last week (and opted for the planning fallacy instead because of circumstances), I thought I’d get into the framing effect this week. The framing...
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What’s the Status Quo From the Other Side: List of Biases in Judgment and...
It’s Monday, so you know what that means — cognitive bias! When I write that, I sort of imagine a “live television audience shouting in chorus: cognitive bias!” Wouldn’t that be fun? Well, maybe it...
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Choice Architecture: Even in “Heads or Tails,” It Matters What’s Presented First
If you’re familiar with behavioural economics, then the results of this study will be right up your alley. The researchers set out to determine whether there was a “first-toss Heads bias.” Meaning,...
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