Confirmation bias: believing what you see, seeing what you believe

“The eye sees only what the mind is prepared to comprehend.” — Robertson Davies. A person who thinks women are bad drivers is more likely to notice driving mistakes made by women. A detective who is convinced a suspect is guilty is more likely to pay attention to evidence corroborating their intuition. And, while someone …

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Cognitive biases in entrepreneurship: a research report

Scenario 1 – Joe and Jane decided to play a game in which they toss a coin a few times. Every time a head came up, Joe had to give Jane $10 and every time a tail came up, Jane had to give Joe $10. They could toss the coin any number of times they …

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Illusory correlations: how to identify your hidden assumptions

When I was a kid, I used to think I was doing much better at tests when using a particular pencil my sister had gifted me. So I would make sure to use this pen for every test. I have a friend who thinks that city people are generally rude. So when he meets a …

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The curse of knowledge

Have you ever had a teacher who was very smart, but also terrible at actual teaching? An expert who used so much jargon you could not quite follow their explanation? This is called the “curse of knowledge”, a term coined in 1989 by economists Colin Camerer, George Loewenstein, and Martin Weber. It’s a cognitive bias …

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The Cobra Effect: how linear thinking leads to unintended consequences

Have you ever tried to fix a problem, only to make things worse? That’s called the Cobra Effect—when an attempted solution results in unintended consequences. Because most of our cause-to-effect experiences involve very simple, direct relationships, we tend to think in terms of linear chain of events. But the world is much more complex than …

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