{"id":26302,"date":"2017-09-30T18:30:32","date_gmt":"2017-09-30T23:30:32","guid":{"rendered":"http:\/\/olduvai.ca\/?p=26302"},"modified":"2017-09-30T18:30:32","modified_gmt":"2017-09-30T23:30:32","slug":"every-single-cognitive-bias-in-one-infographic","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=26302","title":{"rendered":"Every Single Cognitive Bias In One Infographic"},"content":{"rendered":"

Every Single Cognitive Bias In One Infographic<\/a><\/h3>\n
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The human brain is capable of incredible things, but it\u2019s also extremely flawed at times.<\/strong><\/p>\n

Science has shown that we tend to make all sorts of mental mistakes, called \u201ccognitive biases\u201d, that can affect both our thinking and actions. These biases, as Visual Capitalist’s Jeff Desjardins points out<\/a>, can lead to us extrapolating information from the wrong sources, seeking to confirm existing beliefs, or failing to remember events the way they actually happened!<\/em><\/strong><\/p>\n

To be sure, this is all part of being human \u2013 but such cognitive biases can also have a profound effect on our endeavors, investments, and life in general.<\/strong> For this reason, today\u2019s infographic from\u00a0DesignHacks.co<\/a>\u00a0is particularly handy. It shows and groups each of the 188 known confirmation biases in existence.<\/p>\n

<\/a><\/div>\n
Courtesy of: Visual Capitalist<\/a><\/em><\/div>\n

WHAT IS A COGNITIVE BIAS?<\/strong><\/p>\n

Humans tend to think in certain ways that can lead to systematic deviations from making rational judgments.<\/p>\n

These tendencies usually arise from:<\/p>\n

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  • Information processing shortcuts<\/li>\n
  • The limited processing ability of the brain<\/li>\n
  • Emotional and moral motivations<\/li>\n
  • Distortions in storing and retrieving memories<\/li>\n
  • Social influence<\/li>\n<\/ul>\n

    Cognitive biases have been studied for decades by academics in the fields of cognitive science, social psychology, and behavioral economics, but they are especially relevant in today\u2019s information-packed world. They influence the way we think and act, and such irrational mental shortcuts can lead to all kinds of problems in entrepreneurship, investing, or management.<\/p>\n

    COGNITIVE BIAS EXAMPLES<\/strong><\/p>\n

    Here are four examples of how these types of biases can affect people in the business world:<\/p>\n

    Familiarity Bias:<\/strong>\u00a0An investor puts her money in \u201cwhat she knows\u201d, rather than seeking the obvious benefits from portfolio diversification. Just because a certain type of industry or security is familiar doesn\u2019t make it the logical selection.<\/p>\n

    …click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

    Every Single Cognitive Bias In One Infographic The human brain is capable of incredible things, but it\u2019s also extremely flawed at times. Science has shown that we tend to make all sorts of mental mistakes, called \u201ccognitive biases\u201d, that can affect both our thinking and actions. These biases, as Visual Capitalist’s Jeff Desjardins points out, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[13432,5243,1251,15946,4039,12504,4318],"class_list":["post-26302","post","type-post","status-publish","format-standard","hentry","category-liberty","tag-actions","tag-bias","tag-cognitive-bias","tag-jeff-desjardins","tag-thinking","tag-visual-capitalist","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26302"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26302\/revisions"}],"predecessor-version":[{"id":26303,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26302\/revisions\/26303"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}