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  • Writer's pictureAdil Malia

Cognitive Biases

Our human mind works like a super-sensitive complex Computer. A person picks up stimuli from the external environment & sends signals to the brain to decode, analyze & thereafter decide on the appropriate response . This in Psychology is referred to as 'Mediational Mental Event'. Sometimes, the human computer trespasses, misbehaves and gets out of line. As a consequence, the person starts developing 'cognitive biases' & thus takes skewed judgments. Curious to know the 7 frequently identified biases that generally derail human rationality??? Well per Pinker they are : 1. Anchoring - letting the first impact skew the overall rational decision. 'Halo' effect 2. Base-rate Fallacy - allowing one piece of new information abandon the original/studied assumptions made 3. Bandwagon Effect - (enjoy the doodle). Changing the path just to follow & be with others 4. Gamblers Fallacy - betting on the underdog merely because the favourite has won many times 5. Hyperbolic Discounting - one in the hand worth two in the bush decision despite the 'two' being a high probability 6. Probability Negation - taking a call despite probability not backing the opposite 7. Status-Quo Observance - doing the same old thing over & over to avoid changing despite knowing it is wrong

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