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12 Cognitive Biases Explained - How to Think Better and More Logically Removing Bias - YouTube
Channel: Practical Psychology
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hey guys practice psychology here and in
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this video we're going to be talking
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about 12 cognitive biases most of these
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were researched by is one off TV who has
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some great animations on topics like
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these and other self development topics
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so check them out in the description or
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on the end screen now let's get into it
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number one is anchoring bias we humans
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usually completely rely on the first
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information that we received no matter
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how reliable that piece of information
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is when we take decisions the very first
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information has tremendous effect on our
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brain for instance i want to sell you a
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car and you are interested to buy it
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let's say you ask me what the prices and
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I tell you thirty thousand dollars now
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if you come back a week later and i say
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i'll sell it to you for twenty thousand
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dollars
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this seems like a new very cheap price
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to you right because your judgment is
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based on the initial information you got
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which was 30,000 you feel like you're
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getting a great deal but let's say the
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first time that you ask me and I say
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10,000 and then you come back the next
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week and i tell you i'm gonna sell to
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you for 20,000 now it doesn't look like
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a very good deal because of the
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anchoring bias this is just a very
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generic use of the anchoring bias and I
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don't want a bunch of comments about why
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thirty thousand dollar car should be
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sold for ten thousand dollars but
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another example is trees
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what if I asked you if the tallest tree
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in the world was higher or lower than
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1,200 feet and if so how tall the same
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effect occurs if I asked you to guess
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out of thin air instead of giving you an
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anchor of 1,200 feet
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the results are crazy number to
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availability heuristic bias people
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overestimate the importance of
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information that they have let me give
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you an example here some people think
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that terrorism is the biggest threat to
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the United States because that's what
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they see on TV the news always talks
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about it and because of that it inflates
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the danger but if you look at the real
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perspectives televisions cause 55 times
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more deaths than terrorism
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yes tvs literally following people and
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kill them fifty five more times than
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terrorism you're more likely to be
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killed by a cow than a terrorist
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according to the Consumer Product Safety
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Commission it's more likely to die from
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a coconut falling on your head and
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killing you than a terrorist attack
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thank you gary vaynerchuk for that one
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even the police that are hired to
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protect you from terrorists
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it's estimated that you were a hundred
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thirty times more likely to be killed by
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the police and by a terrorist
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that's because people do not make the
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decision based on facts and statistics
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but usually they make it on news and
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stories and stuff they hear from other
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people
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it's way scarier to die from a terrorist
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attack in a falling coconut and because
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of this usually the news won't cover it
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because there's not much money in it
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number three is the bandwagon effect
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people do or believe in something not
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because they actually do believe it but
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because that's what the rest of the
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world believes in
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in other words following the rest
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without thinking if you've ever heard
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someone say well if your friends jump
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off a bridge would you then that someone
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is accusing you of the bandwagon effect
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it happens a lot with us
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I mean a lot of people vote for a
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certain candidate in the election
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because he's the most popular or because
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they want to be part of the majority it
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happens a lot in the stock market too if
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someone starts buying a stock because
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they think it's going to rise then a lot
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of other people are going to start
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picking the stock as well it can also
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happen during meetings if everyone
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agrees on something you are more likely
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to agree with him on that object in
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management the opposite of this is
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called the group think and it's
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something companies try very hard to
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turn because if nine out of ten people
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agree on something for the last person
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doesn't and won't speak up
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it could squelch a great idea number
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four is choice supportive bias so people
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have the tendency to defend themselves
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because it was their choice
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just because I made the choice it must
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be right for example let's say a person
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buys an apple product
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let's say it's a macbook instead of a
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windows pc well he's more likely to
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ignore the downsides or the faults of
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the apple computer while pointing out
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the downsides of the pc he's more likely
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to notice the advantages of the apple
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computer not the windows computer i
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would someone point out that they made a
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bad decision
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well let's say you have a dog you think
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it's awesome because it's your dog
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although it might poop on the floor
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every now and then the same goes for
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political candidates not the pooping
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part but they both may suck but one of
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the lesser of two evils maybe more right
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in your mind because you voted for them
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number five confirmation bias we tend to
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listen to information that confirms what
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we already know or even interpret the
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information that we receive in a way
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that confirms the current information
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that we already have let's say that your
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friend believes that suites are
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unhealthy this is generally a pretty
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broad belief he will only focus on the
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information that confirms what we
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already know is more likely to click on
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videos that confirmed that belief or
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read articles that support his argument
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he doesn't go through and type positive
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health effects of increasing blood
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glucose levels or positive effects of
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eating a bowl of ice cream
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no he will instinctively go to google
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and type in how bad is sugar for you the
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confirmation bias is a very dangerous in
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scientific situations and
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actually one of the most widely
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committed cognitive biases number six
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the ostrich bias this is the decision or
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rather subconscious decision to ignore
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the negative information it may also be
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an indication we only want to consider
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the positive aspects of something
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this goes beyond are only looking for
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the positive information but this is
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when there is negative information and
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we choose to ignore it as an outlier
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sometimes even when we have a problem we
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try to ignore it thinking it will go
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away
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let's say you have an assignment to do
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it's not something that you really want
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to do so you may just keep on
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procrastinating with it because you're
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minding said it will go away or is
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solved by ignoring it
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smokers usually they know it's bad for
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their health but a lot of them keep
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ignoring the negative implications of
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cigarettes thinking it will not damage
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them or might stop them before anything
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serious will happen because they
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consider themselves in our wire to avoid
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finding out negative information we just
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stop looking for it
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this could be a serious crime in many
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scientific research laboratories and
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basically promotes ignorance number 7
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outcome bias we tend to judge the
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efficacy of a decision based primarily
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on how things turn out after decision is
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made we rarely examine the conditions
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that existed at the time of the decision
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choosing instead to evaluate performance
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solely or mostly on whether the end
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result was positive or not in other
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words you decide whether an action is
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right or wrong based on the outcome this
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goes a little bit into consequentialism
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but it goes hand-in-hand with the
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hindsight bias let's say there's a
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manager who wants to take the decision
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his team and the data are telling him to
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make one decision but his gut is telling
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him to make another decision
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well he goes ahead and makes the
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decision that has got told him to do and
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then in the end it was the right
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decision
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does that mean it's actually better to
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trust your gut rather than listen your
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team who is advising you based on facts
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and statistics
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well that's what the outcome biases you
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take the decision and bass the
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effectiveness of your decision on the
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outcome even if it was luck
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now this is bad logical thinking and
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will actually lead you to ruin thinking
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and bad outcomes in the long run number
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8 overconfidence sometimes you get too
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confident and start taking decisions not
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based on facts but based on your opinion
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or gut because you have been correct so
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many times in the past for example you
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are a stock trader and you pick five
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stocks in a couple years all of them
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turn out to be successful and profitable
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it increases your confidence to a point
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where you can start believing that
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whatever start you pick will be
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successful it's quite dangerous because
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you might stop looking at the facts and
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solely rely on your opinion
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check out the gamblers fallacy if you
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want more information on this just
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because you flip the coin five times and
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it landed on heads doesn't mean that the
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next time there's more than fifty
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percent chance of it landing on ahead
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again ego is the enemy is a great book
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about this bias and i just made a book
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review on it
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number nine placebo bias when you
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believe something will have a certain
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effect on you then it will actually
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cause that effect for instance you are
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sick and the doctor gives you a certain
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medicine even if that medicine does not
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actually help you even if it's just made
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of sugar you believe that it will help
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you and it actually causes you to
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recover quicker this might not sound
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very logical but dozens of experiments
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have proven this
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that's why if you realize positive
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people usually have positive life and
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vice-versa the way you think is super
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important and we've hit on this in
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previous videos for the same reason a
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lot of personal development books say
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that if you really believe something you
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will eventually achieve it or at least
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find a way to achieve it because the
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placebo effect will give you the
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motivation that need the mind truly is a
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powerful thing and this actually isn't
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always bad thinking in fact you can use
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a placebo effect in our advantage if we
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use it wisely
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there's actually a reverse of this and
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it's called the nocebo and this is when
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it is native number ten survivorship
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bias this bias is when you are judging
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something based on the surviving
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information let me give you an example
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here there are a lot of articles titled
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like five things millionaires do every
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morning
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does that mean doing those things every
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morning will make you a millionaire know
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there are tons of people who did them
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and didn't become a millionaire but
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there are also tons of people who did
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them and did become a millionaire
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so these articles are primarily based on
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the ones who survived and reject all
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other people to do the same thing but
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did not become millionaires
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another example is to say that buildings
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in an ancient city were built using
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extreme engineering because they lasted
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so long
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this is a bad conclusion because you
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aren't considering what ratio of
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buildings were built to how many that
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lasted
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you're only seeing the ones that lasted
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thousands of years of weathering when
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the other ninety percent I've already
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washed away it's hard to know what you
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don't know
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number 11 selective perception i like
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this one
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selective perception is a form of bias
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that causes people to perceive messages
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and actions according to their frame of
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reference using selective perception
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people tend to overlook and forget that
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contradicts our beliefs or expectations
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let's say for example you're a smoker
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and you're a big fan of soccer
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you're more likely to ignore
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the negative advertisements about
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cigarettes because since you are already
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smoking you have this perception that
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it's okay to smoke but there's an
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advertisement about soccer you are more
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likely to notice it because you have a
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very positive perception about it
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this is actually something really
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interesting and has to do with how you
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perceive the world due to your
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subconscious mind and what it filters
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out the last one is called the blind
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spot bias if I asked you how biased you
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are you would probably say that you are
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less biased than the average person and
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you are more likely to base your
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judgment on facts and statistics and
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that's what's known as a blind spot bias
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or the bias bias your bias because you
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think that you are less biased than
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everyone else
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for example i guess it's something to my
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teacher and the next week she gave me a
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good grade on a test if you ask her
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whether she was biased when she gave me
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that grade the answer will be that the
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gift never affected her decision when
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marking my paper but if you ask her if
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other teachers are biased when students
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give them gifts she will say yes
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in most cases and that's what the blind
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spot biases i really enjoyed creating
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this video but most of the content was
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curated by my friend is gone off he's
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got a channel similar to mine and I'd
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like you to check it out here or in the
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description i hope you guys enjoyed this
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video and learn something if you want
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more valuables like this check out my
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channel and subscribe thanks for
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watching
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