It’s Monday, so that means it’s time for another cognitive bias. However, I’ve finished the list of cognitive biases that I wanted to highlight. Of course, there are many more biases that could be discussed, but I thought those 14 were some of the more important cognitive biases. With today’s post, I thought I would …
Tag Archives: Gamblers Fallacy
Neither the Beginning nor the End — Remember the Middle: List of Biases in Judgment and Decision-Making, Part 12
It’s Monday, so you know what that means — another cognitive bias! This week, I thought I’d combine two because they’re essentially two sides of the same coin. They are: the primacy effect and the recency effect. Believe it or not, these biases are just what they sound like. The primacy effect is the idea that …
When 99% Confident Leads to Wrongness 40% of the Time: List of Biases in Judgment and Decision-Making, Part 9
This week, we’re looking at one of my ‘favorite’ biases, in that it’s one that once you know, it can be quite comical to spot it in others (and yourself, if you still fall for it, from time to time). From Wikipedia: the overconfidence effect “is a well-established bias in which someone’s subjective confidence in …
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 …
Jeremiah Stanghini 