Don’t Fall for the Gambler’s Fallacy: List of Biases in Judgment and Decision-Making, Part 7

A little later in the day than I would have liked, but today’s cognitive bias is the gambler’s fallacy. The bias gets its name from, as you’d expect, gambling. The easiest example to think of is when you’re flipping a coin. If you flip a coin 4 times and each of those 4 times the […]

The Confirmation Bias — What Do You Really Know: List of Biases in Judgment and Decision-Making, Part 6

Well, here we are into the sixth week of biases in judgment and decision-making. Every Monday, I look at my list of cognitive biases and I see that we’ve still got quite a few weeks to go until I’ve exhausted the biases that I want to talk about. This week was a toss-up: I was […]

Perspective and the Framing Effect: List of Biases in Judgment and Decision-Making, Part 5

Since I was going to talk about the framing effect last week (and opted for the planning fallacy instead because of circumstances), I thought I’d get into the framing effect this week. The framing effect is a very easy bias to understand, in that it’s not as complicated in its description as some of the other […]

Get a Second Opinion Before You Succumb to the Planning Fallacy: List of Biases in Judgment and Decision-Making, Part 4

I know that I said that I was going to be talking about a new bias in judgment and decision-making every Monday and I know that today is Tuesday. To be honest — I underestimated how long it would take me to prepare for my seminar in International Relations. Aside: if you want to challenge yourself, […]

The Endowment Effect – Yours Isn’t Always Better: List of Biases in Judgment and Decision-Making, Part 3

Two weeks ago, I wrote about the pitfalls of the sunk cost fallacy. Last week I alerted you to the bias of loss aversion. Since I mentioned the endowment effect last week, I thought it’d be good to cover it sooner rather than later, so this week, we’ll look at the endowment effect. The endowment effect can […]

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 […]

Ignore Sunk Costs: List of Biases in Judgment and Decision-Making, Part 1

It can be really fun to write a series of posts on a particular topic. By my count, I’ve done this at least seven times so far. Today, I’d like to start what I hope will be an oft-read series on biases in judgment and decision-making (to some, cognitive biases). Because of my background in […]

Why We Lie, Cheat, and Steal: The Truth About Dishonesty

I’ve just finished the 5th week of my 4th year of graduate school. For folks that have been in graduate school this long, there’s usually a development of research interests. Because of the nature of my time in graduate school (1 year in a PhD program, 1 year completing my first Master’s, and now into […]

Tying Up Loose Ends — Again

Earlier this year, I did a post where I talked about a number of ideas in one post. This served a couple of interconnected purposes: 1) it emptied my “posts to write” list, and 2) it allowed me to flood that list with some new ideas. (I said the purposes were interconnected.) My list has […]

Adding General Managers to the Organization Could Improve Ethical Decision-Making

I’ve mentioned before that I’m working at Ashoka for the summer. As I don’t currently live in Rossyln, I take the Metro to get to work. As I don’t yet have an iPhone or an iPad (with which to read something on), I’ve kept my subscription to The Economist. As I was reading last week’s […]