Is “A” Really the Best Option or is it Just that It’s Better Than “B”: List of Biases in Judgment and Decision-Making, Part 18

The other day, someone was talking to me about my series on biases in judgment and decision-making and it made me realize that I was missing a rather important bias — the contrast effect! I’m not sure how this one slipped through the cracks, but I’m glad to be able to write about it for you today. It’s been almost […]

The Top Ways For Avoiding Cognitive Biases: List of Biases in Judgment and Decision-Making, Part 17

Last Monday I wrote that my cognitive bias series had come to an end. However, several of you emailed me asking for a more concise summary (as you’ll recall, the last post was over 3000 words). So, I thought I’d aggregate the most frequent suggestions of ways for avoiding cognitive biases. It’s in the same […]

Could Washington, DC, Use a Little More Selfless Service?

During a trip I took earlier this year, I happened to pick up a USAToday. I don’t often read the USAToday, but that has more to do with the way that I aggregate articles. As I was reading, I came across an op-ed about Tulsi Gabbard, the newest member of the House of Representatives from […]

The Law of Flotation was not Discovered by Contemplating the Sinking of Things

“… but by contemplating the floating of things which floated naturally, and then intelligently asking why they did so.” The title of this post and the line above come courtesy of a passage from a book called The Wisdom of Thomas Troward. If I’m being honest, this book is not where I first came across […]

Loss Aversion and the Big Picture: List of Biases in Judgment and Decision-Making, Part 2

I think I’m going to make a habit of posting something new to my series on biases in judgment and decision-making every Monday. Last Monday, we looked at sunk costs. Today, we’re going to look at loss aversion. As much as I can, I’m trying to write about the different biases by themselves. Sunk costs are […]