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What are some common mistakes people make and how can I identify what I'm doing wrong?
Confirmation bias: People often seek out information that confirms their existing beliefs and ignore contradictory evidence.
This can lead to flawed decision-making.
Anchoring effect: Initial information or a reference point heavily influences subsequent judgments, even if the initial information is irrelevant.
Availability heuristic: People tend to judge the likelihood of an event based on how easily they can recall similar events, leading to biased assessments.
Framing effect: The way a choice is presented can significantly impact the decision, even when the underlying options are the same.
Sunk cost fallacy: People often continue to invest time, money, or effort into a losing proposition because of the resources already invested.
Dunning-Kruger effect: Unskilled individuals tend to overestimate their abilities, while skilled individuals often underestimate their competence.
Negativity bias: Humans tend to pay more attention to and remember negative information more than positive information.
Hindsight bias: People often believe that they could have predicted an outcome after the fact, even if they couldn't have predicted it beforehand.
Bandwagon effect: People's decisions and behaviors can be influenced by the actions and beliefs of the people around them.
Overconfidence bias: Individuals often overestimate their knowledge, abilities, and the accuracy of their judgments.
Projection bias: People tend to assume that others share their own beliefs, preferences, and behaviors, leading to misunderstandings.
Choice-supportive bias: People tend to remember their choices as better than they actually were, rationalizing their decisions after the fact.
Recency illusion: The belief that recent events or information are more important or significant than older ones.
Fundamental attribution error: People tend to overemphasize the role of personal factors (like personality or character) in explaining someone's behavior, while underestimating the influence of situational factors.
Blind spot bias: Individuals tend to recognize cognitive biases in others but fail to see them in themselves.
Illusory correlation: People perceive a relationship between two variables even when there is no actual connection.
Information bias: The tendency to seek more information even when it does not affect the decision.
Optimism bias: People tend to be overly optimistic about the likelihood of positive events occurring and underestimating the likelihood of negative events.
Base rate neglect: People often ignore the base rate (the underlying probability of an event) when making judgments, leading to biased assessments.
Conjunction fallacy: The tendency to believe that specific conditions are more probable than general ones, even when the opposite is true.
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