think

12 Cognitive Biases Explained - How to Think Better and More Logically Removing Bias



Sharing buttons:

hey guys practice psychology here and in

this video we're going to be talking

about 12 cognitive biases most of these

were researched by is one off TV who has

some great animations on topics like

these and other self development topics

so check them out in the description or

on the end screen now let's get into it

number one is anchoring bias we humans

usually completely rely on the first

information that we received no matter

how reliable that piece of information

is when we take decisions the very first

information has tremendous effect on our

brain for instance i want to sell you a

car and you are interested to buy it

let's say you ask me what the prices and

I tell you thirty thousand dollars now

if you come back a week later and i say

i'll sell it to you for twenty thousand

dollars

this seems like a new very cheap price

to you right because your judgment is

based on the initial information you got

which was 30,000 you feel like you're

getting a great deal but let's say the

first time that you ask me and I say

10,000 and then you come back the next

week and i tell you i'm gonna sell to

you for 20,000 now it doesn't look like

a very good deal because of the

anchoring bias this is just a very

generic use of the anchoring bias and I

don't want a bunch of comments about why

thirty thousand dollar car should be

sold for ten thousand dollars but

another example is trees

what if I asked you if the tallest tree

in the world was higher or lower than

1,200 feet and if so how tall the same

effect occurs if I asked you to guess

out of thin air instead of giving you an

anchor of 1,200 feet

the results are crazy number to

availability heuristic bias people

overestimate the importance of

information that they have let me give

you an example here some people think

that terrorism is the biggest threat to

the United States because that's what

they see on TV the news always talks

about it and because of that it inflates

the danger but if you look at the real

perspectives televisions cause 55 times

more deaths than terrorism

yes tvs literally following people and

kill them fifty five more times than

terrorism you're more likely to be

killed by a cow than a terrorist

according to the Consumer Product Safety

Commission it's more likely to die from

a coconut falling on your head and

killing you than a terrorist attack

thank you gary vaynerchuk for that one

even the police that are hired to

protect you from terrorists

it's estimated that you were a hundred

thirty times more likely to be killed by

the police and by a terrorist

that's because people do not make the

decision based on facts and statistics

but usually they make it on news and

stories and stuff they hear from other

people

it's way scarier to die from a terrorist

attack in a falling coconut and because

of this usually the news won't cover it

because there's not much money in it

number three is the bandwagon effect

people do or believe in something not

because they actually do believe it but

because that's what the rest of the

world believes in

in other words following the rest

without thinking if you've ever heard

someone say well if your friends jump

off a bridge would you then that someone

is accusing you of the bandwagon effect

it happens a lot with us

I mean a lot of people vote for a

certain candidate in the election

because he's the most popular or because

they want to be part of the majority it

happens a lot in the stock market too if

someone starts buying a stock because

they think it's going to rise then a lot

of other people are going to start

picking the stock as well it can also

happen during meetings if everyone

agrees on something you are more likely

to agree with him on that object in

management the opposite of this is

called the group think and it's

something companies try very hard to

turn because if nine out of ten people

agree on something for the last person

doesn't and won't speak up

it could squelch a great idea number

four is choice supportive bias so people

have the tendency to defend themselves

because it was their choice

just because I made the choice it must

be right for example let's say a person

buys an apple product

let's say it's a macbook instead of a

windows pc well he's more likely to

ignore the downsides or the faults of

the apple computer while pointing out

the downsides of the pc he's more likely

to notice the advantages of the apple

computer not the windows computer i

would someone point out that they made a

bad decision

well let's say you have a dog you think

it's awesome because it's your dog

although it might poop on the floor

every now and then the same goes for

political candidates not the pooping

part but they both may suck but one of

the lesser of two evils maybe more right

in your mind because you voted for them

number five confirmation bias we tend to

listen to information that confirms what

we already know or even interpret the

information that we receive in a way

that confirms the current information

that we already have let's say that your

friend believes that suites are

unhealthy this is generally a pretty

broad belief he will only focus on the

information that confirms what we

already know is more likely to click on

videos that confirmed that belief or

read articles that support his argument

he doesn't go through and type positive

health effects of increasing blood

glucose levels or positive effects of

eating a bowl of ice cream

no he will instinctively go to google

and type in how bad is sugar for you the

confirmation bias is a very dangerous in

scientific situations and

actually one of the most widely

committed cognitive biases number six

the ostrich bias this is the decision or

rather subconscious decision to ignore

the negative information it may also be

an indication we only want to consider

the positive aspects of something

this goes beyond are only looking for

the positive information but this is

when there is negative information and

we choose to ignore it as an outlier

sometimes even when we have a problem we

try to ignore it thinking it will go

away

let's say you have an assignment to do

it's not something that you really want

to do so you may just keep on

procrastinating with it because you're

minding said it will go away or is

solved by ignoring it

smokers usually they know it's bad for

their health but a lot of them keep

ignoring the negative implications of

cigarettes thinking it will not damage

them or might stop them before anything

serious will happen because they

consider themselves in our wire to avoid

finding out negative information we just

stop looking for it

this could be a serious crime in many

scientific research laboratories and

basically promotes ignorance number 7

outcome bias we tend to judge the

efficacy of a decision based primarily

on how things turn out after decision is

made we rarely examine the conditions

that existed at the time of the decision

choosing instead to evaluate performance

solely or mostly on whether the end

result was positive or not in other

words you decide whether an action is

right or wrong based on the outcome this

goes a little bit into consequentialism

but it goes hand-in-hand with the

hindsight bias let's say there's a

manager who wants to take the decision

his team and the data are telling him to

make one decision but his gut is telling

him to make another decision

well he goes ahead and makes the

decision that has got told him to do and

then in the end it was the right

decision

does that mean it's actually better to

trust your gut rather than listen your

team who is advising you based on facts

and statistics

well that's what the outcome biases you

take the decision and bass the

effectiveness of your decision on the

outcome even if it was luck

now this is bad logical thinking and

will actually lead you to ruin thinking

and bad outcomes in the long run number

8 overconfidence sometimes you get too

confident and start taking decisions not

based on facts but based on your opinion

or gut because you have been correct so

many times in the past for example you

are a stock trader and you pick five

stocks in a couple years all of them

turn out to be successful and profitable

it increases your confidence to a point

where you can start believing that

whatever start you pick will be

successful it's quite dangerous because

you might stop looking at the facts and

solely rely on your opinion

check out the gamblers fallacy if you

want more information on this just

because you flip the coin five times and

it landed on heads doesn't mean that the

next time there's more than fifty

percent chance of it landing on ahead

again ego is the enemy is a great book

about this bias and i just made a book

review on it

number nine placebo bias when you

believe something will have a certain

effect on you then it will actually

cause that effect for instance you are

sick and the doctor gives you a certain

medicine even if that medicine does not

actually help you even if it's just made

of sugar you believe that it will help

you and it actually causes you to

recover quicker this might not sound

very logical but dozens of experiments

have proven this

that's why if you realize positive

people usually have positive life and

vice-versa the way you think is super

important and we've hit on this in

previous videos for the same reason a

lot of personal development books say

that if you really believe something you

will eventually achieve it or at least

find a way to achieve it because the

placebo effect will give you the

motivation that need the mind truly is a

powerful thing and this actually isn't

always bad thinking in fact you can use

a placebo effect in our advantage if we

use it wisely

there's actually a reverse of this and

it's called the nocebo and this is when

it is native number ten survivorship

bias this bias is when you are judging

something based on the surviving

information let me give you an example

here there are a lot of articles titled

like five things millionaires do every

morning

does that mean doing those things every

morning will make you a millionaire know

there are tons of people who did them

and didn't become a millionaire but

there are also tons of people who did

them and did become a millionaire

so these articles are primarily based on

the ones who survived and reject all

other people to do the same thing but

did not become millionaires

another example is to say that buildings

in an ancient city were built using

extreme engineering because they lasted

so long

this is a bad conclusion because you

aren't considering what ratio of

buildings were built to how many that

lasted

you're only seeing the ones that lasted

thousands of years of weathering when

the other ninety percent I've already

washed away it's hard to know what you

don't know

number 11 selective perception i like

this one

selective perception is a form of bias

that causes people to perceive messages

and actions according to their frame of

reference using selective perception

people tend to overlook and forget that

contradicts our beliefs or expectations

let's say for example you're a smoker

and you're a big fan of soccer

you're more likely to ignore

the negative advertisements about

cigarettes because since you are already

smoking you have this perception that

it's okay to smoke but there's an

advertisement about soccer you are more

likely to notice it because you have a

very positive perception about it

this is actually something really

interesting and has to do with how you

perceive the world due to your

subconscious mind and what it filters

out the last one is called the blind

spot bias if I asked you how biased you

are you would probably say that you are

less biased than the average person and

you are more likely to base your

judgment on facts and statistics and

that's what's known as a blind spot bias

or the bias bias your bias because you

think that you are less biased than

everyone else

for example i guess it's something to my

teacher and the next week she gave me a

good grade on a test if you ask her

whether she was biased when she gave me

that grade the answer will be that the

gift never affected her decision when

marking my paper but if you ask her if

other teachers are biased when students

give them gifts she will say yes

in most cases and that's what the blind

spot biases i really enjoyed creating

this video but most of the content was

curated by my friend is gone off he's

got a channel similar to mine and I'd

like you to check it out here or in the

description i hope you guys enjoyed this

video and learn something if you want

more valuables like this check out my

channel and subscribe thanks for

watching