Podcast
Questions and Answers
What is the tendency to seek, interpret, and remember information that confirms one's existing beliefs or hypotheses?
What is the tendency to seek, interpret, and remember information that confirms one's existing beliefs or hypotheses?
- Hindsight Bias
- Confirmation Bias (correct)
- Anchoring Bias
- Availability Heuristic
What is the tendency to rely too heavily on the first piece of information encountered when making decisions or judgments?
What is the tendency to rely too heavily on the first piece of information encountered when making decisions or judgments?
- Availability Heuristic
- Hindsight Bias
- Anchoring Bias (correct)
- Dunning-Kruger Effect
What is the tendency to believe, after an event has occurred, that it was predictable and that one would have predicted it?
What is the tendency to believe, after an event has occurred, that it was predictable and that one would have predicted it?
- Confirmation Bias
- Anchoring Bias
- Dunning-Kruger Effect
- Hindsight Bias (correct)
What is the tendency to overestimate the importance or likelihood of information that is readily available?
What is the tendency to overestimate the importance or likelihood of information that is readily available?
What is the tendency of people who are incompetent in a particular domain to overestimate their own abilities and performance?
What is the tendency of people who are incompetent in a particular domain to overestimate their own abilities and performance?
Which bias involves ignoring or dismissing contradictory information?
Which bias involves ignoring or dismissing contradictory information?
What is the result of the tendency to overestimate the degree to which an event was predictable?
What is the result of the tendency to overestimate the degree to which an event was predictable?
Which bias involves judging the likelihood of an event based on how easily examples come to mind?
Which bias involves judging the likelihood of an event based on how easily examples come to mind?
What is the result of the tendency of people who are incompetent in a particular domain to overestimate their own abilities and performance?
What is the result of the tendency of people who are incompetent in a particular domain to overestimate their own abilities and performance?
What is the primary consequence of confirmation bias?
What is the primary consequence of confirmation bias?
Which cognitive bias is most likely to occur when an individual is inexperienced in a particular domain?
Which cognitive bias is most likely to occur when an individual is inexperienced in a particular domain?
What is the primary driving factor behind the availability heuristic?
What is the primary driving factor behind the availability heuristic?
Which cognitive bias is most closely related to the concept of 'cherry-picking' data?
Which cognitive bias is most closely related to the concept of 'cherry-picking' data?
What is the primary consequence of the anchoring bias?
What is the primary consequence of the anchoring bias?
Which cognitive bias is most closely related to the statement 'I knew it all along'?
Which cognitive bias is most closely related to the statement 'I knew it all along'?
What is the primary driving factor behind the Dunning-Kruger effect?
What is the primary driving factor behind the Dunning-Kruger effect?
Which cognitive bias is most closely related to the concept of 'selective memory'?
Which cognitive bias is most closely related to the concept of 'selective memory'?
What is the primary consequence of the availability heuristic?
What is the primary consequence of the availability heuristic?
Which cognitive bias is most closely related to the concept of 'initial value'?
Which cognitive bias is most closely related to the concept of 'initial value'?
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Study Notes
Cognitive Biases
Cognitive biases are systematic errors in thinking and decision-making that affect individuals' perceptions, judgments, and behaviors.
Confirmation Bias
- The tendency to seek, interpret, and remember information that confirms one's existing beliefs or hypotheses
- Ignoring or dismissing contradictory information
- Can lead to:
- Selective perception
- Closed-mindedness
- Polarization
Anchoring Bias
- The tendency to rely too heavily on the first piece of information encountered when making decisions or judgments
- Anchors can be arbitrary or irrelevant
- Can lead to:
- Inaccurate estimates
- Poor decision-making
- Inconsistencies
Hindsight Bias
- The tendency to believe, after an event has occurred, that it was predictable and that one would have predicted it
- Overestimation of the degree to which an event was predictable
- Can lead to:
- Overconfidence
- Lack of learning from experience
- Unrealistic expectations
Availability Heuristic
- The tendency to overestimate the importance or likelihood of information that is readily available
- Judging the likelihood of an event based on how easily examples come to mind
- Can lead to:
- Overestimation of risks
- Misjudging probabilities
- Biased decision-making
Dunning-Kruger Effect
- The tendency of people who are incompetent in a particular domain to overestimate their own abilities and performance
- Lack of self-awareness and knowledge in a specific area
- Can lead to:
- Overconfidence
- Poor decision-making
- Inadequate performance
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