Cognitive Bias: How Your Mind Plays Tricks on You and How to Overcome That at Work

Cognitive Bias: How Your Mind Plays Tricks on You and How to Overcome That at Work

Cognitive biases exist only in our heads, but they affect everything around us, including our work. Cognitive bias is full of challenge, opportunity, and opportunity. Cognitive biases are full of challenges and opportunity, but not all of them are good or bad, they are just the way they are.

Sunk Cost Fallacy

The term sunk cost fallacy describes our tendency to commit to something just because we’ve already invested resources in it-even if it would be better to give up on it.

How to control the sunk cost fallacy

Always reevaluate your processes in light of new evidence

How to control the goal gradient effect

Visualize your work in ways that allow you to see how far you have to go

Goal Gradient Effect

The goal gradient effect explains why we work harder to achieve our goals when they’re most closely in sight

How to control your optimism bias

Be skeptical of your own rosy expectations for your work

Negativity Bias

Negativity bias is the tendency to change our thought processes and behaviors more because of negative things than positive things

Confirmation Bias

The tendency to focus on new information that confirms pre-existing beliefs and trivialize anything that might challenge those beliefs

What Is Cognitive Bias?

Cognitive biases are common thinking errors that hinder our rational decision-making

Cognitive Miser Theory

Our brains are lazy

Optimism Bias

Optimism bias is our tendency to overestimate the odds of our own success compared to other people’s

Anchoring Effect

The tendency to privilege the first information we encounter, even when subsequent information turns out to be more relevant or realistic

How to control the anchoring effect

Be sure that you’re always reviewing data from new angles

How to Control Your Confirmation Bias

Seek out information that goes against your pre-existing beliefs

How to control your negativity bias

Track your wins

IKEA Effect

Researchers from Harvard, Yale, and Duke have identified our tendency to assign greater value to products if we play a part in their assembly

Control the IKEA Effect

You can do it for yourself by getting deeper in the weeds of the project you’re a part of

How to control cognitive bias

Mindful and deliberate choices about how we apply our mental effort can help us establish patterns that eliminate friction and emphasize our strengths

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