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5 behavioral biases that blur our decision making

In this article series called "5 times 5", we will explore some basics around gamification, nudging & behavioural design.

Decision making is hard, but by being aware of some common biases that affect you it’s easier to stay on track.

 

1. Bandwagon effect
We tend to do or believe things that a lot of other people also do or believe. That doesn’t necessarily means it is the right thing to do or believe.

2. Anchoring
We tend to stick to one piece of information that we constantly return to. Usually the first information we get on the subject and therefore miss to take relevant updates of information in to consideration when making decisions.

3. Selection bias
If we have had something on mind that is important in our lives, like being pregnant or that we just bought a Tesla, we tend to notice these things even more than before, so we suddenly think that the world is full of pregnant women. Or Teslas. They are not suddenly more common - we just are noticing them more. Also called the Observational Selection Bias.

4. Courtesy bias
Being socially accepted is so important to us, that we tend to have an opinion that is socially correct over one's true opinion, so as to avoid offending anyone.

5. Status quo bias
Every decision that forces us or the surroundings to change is harder to make than the ones that keeps the peace and preserve status quo.The tendency to like things to stay relatively the same!

 

 


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