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Episode Markers
  • 00:20
     
    #Anchoring Bias   
    Anchoring Bias - We rely on the first piece of information we receive. The Anchoring Bias often plays out in negotiations as the first number sets the tone of the rest of the discussion.
  • 01:20
     
    #Availability Heuristic bias   
    Availability Heuristic bias - People will overestimate the value of information they have.
  • 02:21
     
    #Bandwagon Bias   
    Bandwagon Bias - People will believe something because others do.
  • 03:07
     
    #Choice Supportive Bias    #Mark Twain    #It's easier to fool people than to convince them that they have been fooled.   
    Choice Supportive Bias - People will defend a choice that they made. Though Mark Twain gets credit for the quote "It&39&59;s easier to fool people than to convince them that they have been fooled.", there is no evidence that he said it.
  • 03:50
     
    #Confirmation Bias   
    Confirmation Bias - People will listen to information that confirms their beliefs.
  • 04:29
     
    #Ostrich Bias   
    Ostrich Bias - People will ignore negative information.
  • 05:18
     
    #Outcome Bias    #Hindsight Bias   
    Outcome Bias - We examine performance based on the outcome rather than the situations that existed at the time of the event. Consequentialism Hindsight Bias
  • 06:12
     
    #Overconfidence    #What I Learned Losing a Million Dollars    #Jim Paul    #Brendan Moynihan   
    Overconfidence - Making decisions based on past luck. This often occurs in gambling, or in the stock market. One interesting tale about this is in the book "What I Learned Losing a Million Dollars" by Jim Paul and Brendan Moynihan.
  • 06:36
     
    #Gambler's Fallacy   
    Often the Overconfidence Bias is known as the Gambler&39&59;s Fallacy.
  • 06:46
     
    #Ego is the Enemy    #Ryan Holiday   
    Ego is the Enemy by Ryan Holiday is a great book on Overconfidence Bias.
  • 06:51
     
    #Placebo Bias   
    Placebo Bias is where if you believe something will have an effect, it often will.
  • 07:43
     
    #Survivorship Bias   
    Survivorship Bias occurs where extrapolating only the successful cases backwards leads to false results. It is hard to know what you don&39&59;t know.
  • 08:30
     
    #Selective Perception Bias   
    Selective Perception Bias -- people will notice information that they are favorable about and ignore the items they are not.
  • 09:06
     
    #Blind Spot Bias   
    Blind Spot Bias - Most people think they are less biased then everyone else.

12 Cognitive Biases Explained

We are going to be explaining 12 cognitive biases in this video and presenting them in a format that you can easily understand to help you make better decision in your life. Cognitive biases are flaws in logical thinking that clear the path to bad decisions, so learning about these ideas can reduce errors in your thought process, leading to a more successful life. These biases are very closely related to logical fallacies, which may help you win an argument or present information better. Ismonoff: https://www.youtube.com/user/ismonofftv 1)Anchoring Bias 2)Availability Heuristic bias 3)Bandwagon Bias 4)Choice Supportive Bias 5)Confirmation Bias 6)Ostrich Bias 7)Outcome Bias 8)Overconfidence 9)Placebo bias 10)Survivorship Bias 11)Selective Perception Bias 12)Blind Spot Bias What I make my videos with: http://bit.ly/2fPakuK Insta: https://www.instagram.com/practical_psych/ Twitter: https://twitter.com/practical_psych Facebook: https://www.facebook.com/practical






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