Why You Keep Making Bad Decisions: The Cognitive Biases You Didn’t Know You Had
A revealing look at the subconscious biases that steer your choices off course and how to regain control.
Every day, we make decisions that shape our lives. But why do we sometimes choose poorly, even against our better judgment? The answer often lies in cognitive biases—systematic errors in thinking that affect everyone.
Survivorship Bias: The Hidden Failures
\We focus on winners and ignore the countless failures, leading to overconfidence. For instance, aspiring investors may chase stocks highlighted by success stories, unaware of the many that failed.
\ \Swimmer’s Body Illusion: Misattributing Success
\We confuse traits that enable success with the results of success itself, leading to unrealistic self-expectations and misguided efforts.
\ \Clustering Illusion: False Patterns
\Our brain’s pattern-seeking leads us to see connections in random events, fueling superstitions and bad predictions.
\ \Social Proof: The Herd Effect
\We follow the crowd to feel safe, sometimes ignoring evidence and making irrational choices.
\ \Sunk Cost Fallacy: The Past’s Prison
\We stick with losing ventures to justify past investments, even when cutting losses is wiser.
\ \Reciprocity: The Invisible Debt
\Small gifts create feelings of indebtedness, leading to compliance even when unwanted.
\ \Confirmation Bias: The Comfort Zone of Belief
\We seek confirming information and reject challenges, limiting growth and understanding.
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