Every Psychological Traps in 20 Minutes | 2024

Summary

This video script explores various psychological traps that can skew our decision-making and perceptions. It covers biases like the illusion of transparency, the empathy gap, and the anchoring effect, among others, offering insights on how to recognize and counteract these cognitive biases for improved judgment and smarter choices.

Takeaways

• 🔍 The Illusion of Transparency: We often think others can sense our internal states like nervousness, but they are usually less aware than we think.
• 🌀 The Empathy Gap: Our emotions can sway our decisions, and we might not realize it. Try to make choices when calm and consider others' opinions when emotional.
• 🦅 The Ostrich Effect: People tend to avoid bad news or problems, but regularly reviewing situations can prevent issues from escalating.
• 🎓 Survivorship Bias: Focusing only on successful outcomes can lead to incorrect assumptions. Consider failures to get a complete picture.
• 🔥 The Hot-Hand Fallacy: Recent success doesn't guarantee future wins; each event is independent.
• 🆚 The Contrast Effect: Comparisons can skew judgment; be aware of marketing tricks that use this to influence your choices.
• 📚 Chauffeur Knowledge: Appearing knowledgeable without true understanding is common. Seek deeper explanations to verify comprehension.
• 🎯 The Illusion of Averages: Averages can be misleading; consider the spread of scores or outcomes for a more accurate view.
• 🔑 The Curse of Specificity: Detailed information isn't always more convincing or relevant. Focus on key points to engage your audience.
• 🚪 Inability to Close Doors: Fear of missing out can lead to indecision. Focus on one thing at a time for better results.
• 💡 The Spotlight Effect: We often believe others notice our mistakes more than they do. Relax and be yourself, as most are focused on themselves.
• 🌟 The Halo Effect: One positive trait shouldn't cloud your judgment of a person's overall character or intentions.
• 🔄 Reciprocity: Feelings of obligation from a favor can influence decisions. Be aware of this to make choices based on genuine desire.
• 🎶 The Mere Exposure Effect: Repeated exposure can increase liking. Be mindful of how this shapes preferences in marketing.
• 🚀 Self-Serving Bias: Taking credit for success and blaming failures on external factors is common. Practice responsibility for all outcomes.
• 📌 The Anchoring Effect: Initial information can skew decisions. Make choices independently of the first offer or piece of information.
• 👎 Negativity Bias: Focusing more on negative events can distort perspective. Shift focus to positive events and practice gratitude.
• ❌ The Sunk Cost Fallacy: Continuing an activity due to past investment can be unwise. Base decisions on future benefits, not past costs.
• 🍽 The Paradox of Choice: Too many options can make decision-making difficult. Narrowing down choices can simplify the process.
• 📐 The Framing Effect: How information is presented can influence decisions. Consider different perspectives before deciding.
• 🤝 The Curse of Knowledge: Assuming others understand as you do can lead to confusion. Simplify explanations for clarity.
• 🌈 The Pygmalion Effect: High expectations can improve performance. Set high but realistic goals and believe in your ability to succeed.
• 🔄 The Consistency Principle: Sticking to what you've said or done before can help keep promises and follow through on plans.
• 📝 The Planning Fallacy: Underestimating task completion time is common. Consider past experiences and add extra time to estimates.
• 🔎 Confirmation Bias: Focusing only on information that supports existing beliefs can reinforce biases. Seek out opposing information for balance.
• 🚂 The Bandwagon Effect: Following others' actions without personal conviction can be misleading. Make decisions based on your own values.
• 📲 The Endowment Effect: Valuing possessions more because you own them can lead to holding onto unnecessary items. Evaluate from an outsider's perspective.
• 🏋️ Action Bias: Preferring action over inaction can sometimes be misguided. Recognize when patience and inaction are more beneficial.
• 🧐 The Dunning-Kruger Effect: Inability to recognize one's own lack of skill can hinder growth. Stay humble and seek feedback to improve.
• 🔁 The Baader-Meinhof Phenomenon: Noticing something new leads to seeing it everywhere. This is a cognitive bias and not an accurate reflection of reality.
• 💰 Loss Aversion: The preference for avoiding losses over acquiring equivalent gains can lead to excessive caution. Consider both outcomes when making choices.
• 🛠 The IKEA Effect: Valuing something more because you created it can be misleading. Seek honest feedback to avoid overvaluing your efforts.
• 🍿 The Decoy Effect: Introducing a third option can change preferences, making one option seem more attractive. Be aware of this in decision-making.
• 🚨 The Availability Heuristic: Relying on immediate examples can lead to overestimating their importance. Check facts and statistics before deciding.
• 📈 The Déro Effect: Acquiring a new item can lead to additional purchases. Be mindful of how one purchase can influence overall spending.
• 👥 The Bystander Effect: The presence of others can reduce the likelihood of helping in need. Take personal responsibility and act when necessary.
• 🎰 The Gambler's Fallacy: Believing past events affect future probabilities in random situations is a fallacy. Each event is independent.
• 👓 Hindsight Bias: Seeing events as predictable after they've happened can distort understanding. Be honest about what was known beforehand.
• 🌐 The Unity Principle: Favoring people in our group can bias decisions. Be aware of this and consider recommendations objectively.
• 🔄 Reactant Bias: The urge to do the opposite of what's told can be a bias. Focus on personal goals rather than reacting to comments.
• 📇 The Zeigarnik Effect: Remembering unfinished tasks better can be used to advantage by breaking tasks into smaller segments to stay motivated.
• ❓ The Ambiguity Effect: Avoiding choices with uncertain outcomes can limit experiences. Be aware of this bias and explore unknown options.
• 🏁 The End of History Illusion: Believing you won't change much in the future can hinder growth. Embrace change and stay open to new experiences.

Q & A

What is the 'illusion of transparency' and why does it occur?

The 'illusion of transparency' is a cognitive bias where individuals overestimate how much others can understand their internal states, such as nervousness during a presentation. It happens because we are highly aware of our own emotions and often assume others can easily perceive them.

How can one counteract the 'empathy gap' when making decisions?

To counteract the 'empathy gap', one should be aware that emotions like hunger, anger, or pain can influence decisions. Strategies such as making decisions when calm and neutral, or seeking others' opinions when emotional, can help avoid this bias.

What is the 'ostrich effect' and how can it be mitigated?

The 'ostrich effect' describes the tendency to avoid bad news or uncomfortable situations, similar to an ostrich burying its head in the sand. To mitigate this, one should regularly review their financial status and deal with problems before they escalate.

Can you explain 'survivorship bias' and how to avoid making decisions based on it?

'Survivorship bias' is the tendency to focus on successful outcomes while ignoring failures. To avoid this bias, consider both successful and unsuccessful cases, and gather data on those who didn't succeed to get a complete picture.

What is the 'hot-hand fallacy' and how does it influence decision-making?

The 'hot-hand fallacy' is the belief that recent success indicates a higher likelihood of continued success. This can lead to irrational decisions based on the assumption of patterns in random events. Understanding probability and randomness can counteract this fallacy.

How does the 'contrast effect' influence our judgment and how can we be aware of it?

The 'contrast effect' happens when our judgment is influenced by comparing something with another. For example, car salespeople might show a poor-quality car before presenting a better one to make it seem superior. Being aware of this effect can prevent being fooled by such marketing tactics.

What is 'chauffeur knowledge' and why is it important to challenge it?

'Chauffeur knowledge' refers to the appearance of knowledge without true understanding, similar to a parrot repeating phrases. Challenging this by asking deeper questions and seeking explanations can reveal a person's true level of comprehension.

Why is it a mistake to rely solely on 'averages' when making decisions?

Relying solely on 'averages' can be misleading because they may not accurately represent the experiences of individuals within a group. It's important to consider the spread of scores or outcomes to understand the full picture.

What is 'the curse of specificity' and how can it lead to ineffective communication?

'The curse of specificity' is when detailed information seems more convincing even if it's not relevant. This can lead to information overload and ineffective communication. Focusing on key points and avoiding irrelevant details can help keep the audience engaged.

Why is it difficult to 'close doors' when making decisions and how can one overcome this?

The difficulty in 'closing doors' is due to the fear of missing out on other opportunities. This can lead to a scattered focus and mediocre outcomes. To overcome this, one should focus on one thing at a time to improve quality and productivity.

What is 'the spotlight effect' and how can it be managed?

'The spotlight effect' is the belief that others notice our appearance or mistakes more than they actually do. Managing this by reminding oneself that most people are focused on themselves can help reduce anxiety and allow one to be more relaxed.

Can you describe 'the halo effect' and its potential pitfalls?

'The halo effect' occurs when one positive trait influences the overall opinion of a person. This can lead to overlooking potential downsides due to a positive first impression. Evaluating situations and people on their own merits can prevent being misled by this effect.

What is 'reciprocity' and how can it influence consumer behavior?

Reciprocity is the sense of obligation to return a favor, which can influence consumer behavior. For example, receiving a free sample might compel someone to buy a product. Being aware of this influence can help make decisions based on genuine desire rather than perceived obligation.

How does 'the mere exposure effect' shape our preferences and choices?

The 'mere exposure effect' occurs when repeated exposure to something makes us like it more. This can shape our preferences and choices without us noticing. Being mindful of this bias and trying new experiences can counteract it.

What is 'self-serving bias' and how can it be avoided?

'Self-serving bias' is when individuals take credit for success but blame external factors for failures. To avoid this, practicing taking responsibility for one's actions in both successes and failures can promote learning and improvement.

What is 'the anchoring effect' and how can it lead to overspending?

'The anchoring effect' occurs when initial information influences decisions. For example, seeing a high-priced item first can make subsequent items seem like a bargain, leading to overspending. Looking at offers independently can counteract this effect.

Why is it important to be aware of 'negativity bias' and how can it be managed?

'Negativity bias' is the tendency to focus more on negative events than positive ones. To manage this, shifting perspective to focus on positive events and practicing gratitude can help maintain a balanced view.

What is 'the sunk cost fallacy' and how can it hinder decision-making?

The 'sunk cost fallacy' is continuing an activity or project due to past investments, rather than current benefits. This can hinder decision-making by preventing the abandonment of unproductive endeavors. Decisions should be based on potential future benefits, not past costs.

How does 'the paradox of choice' affect decision-making and what can be done to simplify it?

'The paradox of choice' is the difficulty in making decisions when faced with too many options. Simplifying the decision-making process by narrowing down options or highlighting the best choice can make it easier to decide.

What is 'the framing effect' and how can it influence decisions?

'The framing effect' occurs when decisions are influenced by how information is presented. For example, the same safety rating can sound better or worse depending on the wording. Considering information from different perspectives can help avoid this bias.

What is 'the curse of knowledge' and how can it lead to miscommunication?

'The curse of knowledge' occurs when one assumes others have the same understanding, leading to confusion and miscommunication. Simplifying explanations and considering the audience's perspective can make communication clearer and more effective.

How does 'the Pygmalion effect' influence performance and what can be done to utilize it?

'The Pygmalion effect' is when high expectations lead to better performance. Setting high but realistic goals and believing in one's ability to succeed can utilize this effect to achieve better results.

What is 'the consistency principle' and how can it help in following through on plans?

'The consistency principle' is the desire to stick to what one has said or done before. Sharing goals with others can make one more likely to achieve them by adhering to this principle.

What is 'the planning fallacy' and how can it be avoided?

'The planning fallacy' is underestimating how long a task will take. Avoiding this by considering past experiences, adding extra time to estimates, and breaking down tasks into smaller steps can ensure enough time to complete tasks without rushing.

What is 'confirmation bias' and how can one avoid reinforcing their own biases?

'Confirmation bias' is focusing only on information that supports existing beliefs. To avoid this, one should seek out information that challenges their beliefs to achieve a balanced perspective.

What is 'the bandwagon effect' and how can one make decisions based on personal values?

'The bandwagon effect' is following what others are doing. To make decisions based on personal values, one should consider whether they genuinely enjoy something or not.

Outlines

00:00

🔎 Cognitive Biases Overview

This paragraph introduces a range of cognitive biases that affect our decision-making processes. It discusses the illusion of transparency, where people assume others can easily discern their internal states, like nervousness during presentations. The empathy gap is highlighted, where emotions like hunger can skew decisions. The ostrich effect describes avoidance of bad news, while survivorship bias warns against focusing solely on successful outcomes, ignoring failures. The hot-hand fallacy is mentioned, where recent success is incorrectly assumed to predict future success. The contrast effect, chauffeur knowledge, and the illusion of averages are also touched upon, emphasizing the importance of looking beyond surface-level information for better decision-making.

05:02

🚪 The Curse of Specificity and Inability to Close Doors

The curse of specificity is examined, where detailed but irrelevant information can mislead. The inability to close doors is described as a struggle to make decisions due to fear of missing out, leading to scattered focus and mediocre outcomes. The spotlight effect and the halo effect are covered, illustrating how people often overestimate the attention others pay to them or are influenced by a single positive trait. Reciprocity and the mere exposure effect are also discussed, showing how small obligations or repeated exposure can influence preferences. The self-serving bias and anchoring effect are highlighted, demonstrating how initial information can skew judgments.

10:03

🌧️ Negativity Bias and Sunk Cost Fallacy

This section delves into the negativity bias, where negative events are given more weight than positive ones, and the sunk cost fallacy, where past investments lead to continued engagement in unbeneficial activities. The paradox of choice is introduced, explaining decision-making difficulties with an overabundance of options. The framing effect is discussed, showing how information presentation can influence decisions. The curse of knowledge is touched upon, cautioning against assuming shared understanding levels, while the Pygmalion effect and consistency principle are mentioned, emphasizing the power of expectations and the desire to maintain past commitments.

15:04

🎲 Cognitive Biases in Social and Economic Contexts

The paragraph explores various cognitive biases in social and economic contexts. It starts with the planning fallacy, where task duration is underestimated, and moves to confirmation bias, which involves focusing on information that aligns with existing beliefs. The bandwagon effect, endowment effect, and action bias are discussed, showing how social influence, ownership, and the preference for action over inaction can affect choices. The Dunning-Kruger effect and the Baader-Meinhof phenomenon are also covered, illustrating overconfidence in one's abilities and the illusion of increased frequency of newly noticed things.

20:04

💡 Avoiding Cognitive Biases for Better Decisions

The final paragraph emphasizes the importance of recognizing and avoiding cognitive biases for improved decision-making. It mentions loss aversion, the Ikea effect, decoy effect, availability heuristic, and the dero effect, all of which can lead to suboptimal choices if not accounted for. The bystander effect, gambler's fallacy, hindsight bias, unity principle, reactant bias, and the Zeigarnik effect are also discussed, providing insights into how social context and psychological tendencies can shape our behavior. The ambiguity effect and the end of history illusion conclude the discussion, urging viewers to remain open to change and new experiences.

Keywords

💡Transparency

Transparency in the context of the video refers to the perceived clarity of one's internal states to others. It is a concept that highlights the illusion of how much we believe others can understand our feelings or thoughts, such as nervousness during a presentation. The video emphasizes that people often overestimate this transparency, leading to the illusion of transparency, where individuals assume others are more aware of their internal struggles than they actually are.

💡Empathy Gap

The Empathy Gap is a cognitive bias where individuals fail to recognize the extent to which their emotions, such as hunger or anger, influence their decision-making. The video illustrates this by pointing out that shopping while hungry may lead to purchasing more than necessary. It suggests being aware of one's emotional state when making decisions and advises calmness and seeking external opinions to avoid this bias.

💡Ostrich Effect

The Ostrich Effect is a metaphorical term used in the video to describe the tendency of individuals to avoid bad news or uncomfortable situations, similar to an ostrich burying its head in the sand. An example provided is avoiding checking bank account statements due to fear of a high balance. The video recommends making it a habit to regularly review financial statuses to proactively address issues.

💡Survivorship Bias

Survivorship Bias is the tendency to focus on successful outcomes while ignoring failures. The video uses the example of observing successful entrepreneurs who dropped out of college and the misconception that this path leads to success. It advises considering both successful and unsuccessful cases to avoid making decisions based on incomplete information.

💡Hot-Hand Fallacy

The Hot-Hand Fallacy is the belief that past successes indicate future success, such as believing a salesperson on a winning streak will continue to close deals. The video explains that this is a misinterpretation of randomness and that each event is independent. Understanding probability can help in making more rational decisions.

💡Contrast Effect

The Contrast Effect is a cognitive bias where judgments are influenced by comparisons with other items. The video gives the example of car salespeople showing a less appealing car before presenting the one they want to sell, making it seem better by comparison. It advises being aware of this effect in marketing to avoid being misled.

💡Chauffeur Knowledge

Chauffeur Knowledge refers to the appearance of knowledge without true understanding, akin to a parrot repeating phrases. The video suggests not being afraid to ask deeper questions to discern if someone truly comprehends what they are discussing. This concept is used to highlight the importance of genuine understanding over superficial knowledge.

💡Illusion of Averages

The Illusion of Averages is the misconception that average figures accurately represent individual experiences within a group. The video uses the example of an average test score in a class, explaining that this average might not reflect the true spread of student performance. It encourages looking beyond averages to understand the full picture.

💡Curse of Specificity

The Curse of Specificity is the phenomenon where detailed information seems more convincing, even if it is irrelevant. The video illustrates this with the example of a friend describing every scene of a movie to convince you of its worth. It advises focusing on key points to keep the audience engaged and avoid irrelevant details.

💡Inability to Close Doors

The Inability to Close Doors refers to the struggle to make decisions due to fear of missing out on other opportunities. The video provides the example of working on multiple business ideas simultaneously, which can lead to scattered focus and mediocre outcomes. It recommends focusing on one thing at a time to improve quality.

💡Spotlight Effect

The Spotlight Effect is the belief that others notice one's appearance or mistakes more than they actually do. The video suggests that most people are more focused on themselves and advises taking a deep breath, relaxing, and being oneself. It is used to illustrate the common misconception of being the center of others' attention.

Highlights

The Illusion of Transparency: Overestimating others' ability to perceive our internal states.

Counteracting the Illusion of Transparency with self-compassion and understanding others' focus on their own thoughts.

The Empathy Gap: Unrecognized influence of emotions on decision-making.

Avoiding the Empathy Gap by making calm and neutral decisions.

The Ostrich Effect: Avoidance of bad news leading to inaction.

Overcoming the Ostrich Effect through regular review of financial status.

Survivorship Bias: Focusing on successful outcomes while ignoring failures.

Considering both successes and failures to avoid Survivorship Bias.

The Hot-Hand Fallacy: Belief in the continuation of success based on recent wins.

Understanding probability and randomness to counter the Hot-Hand Fallacy.

The Contrast Effect: Influence of comparisons on judgment.

Being aware of the Contrast Effect in marketing to avoid being misled.

Chauffeur Knowledge: Appearing knowledgeable without true understanding.

Avoiding Chauffeur Knowledge by asking deeper questions and seeking explanations.

The Illusion of Averages: Misinterpretation of average figures representing individual experiences.

Looking beyond averages to understand the true performance spread.

The Curse of Specificity: Overemphasis on detailed information that may not be relevant.

Focusing on key points to avoid the Curse of Specificity.

Inability to Close Doors: Difficulty in making decisions due to fear of missing out.

Concentrating on one task at a time to improve quality and avoid burnout.

The Spotlight Effect: Overestimating others' attention to our appearance or mistakes.

Relaxing and being oneself to counter the Spotlight Effect.

The Halo Effect: Influence of one positive trait on overall opinion of a person.

Evaluating people on their own merits to avoid the Halo Effect.

Reciprocity: Sense of obligation to return a favor influencing decisions.

Being aware of reciprocity to avoid being swayed by perceived obligations.

The Mere Exposure Effect: Increased liking due to repeated exposure.

Being mindful of the Mere Exposure Effect in decision-making.

Self-Serving Bias: Taking credit for success and blaming external factors for failures.

Practicing responsibility for actions in both successes and failures to counter Self-Serving Bias.

The Anchoring Effect: Influence of initial information on subsequent decisions.

Avoiding the Anchoring Effect by considering offers independently.

Negativity Bias: Focusing more on negative events than positive ones.

Shifting perspective to focus on positive events to counter Negativity Bias.

The Sunk Cost Fallacy: Continuing an activity due to past investments.

Making decisions based on future benefits rather than past costs to avoid the Sunk Cost Fallacy.

The Paradox of Choice: Difficulty in making decisions with too many options.

Narrowing down options to simplify decision-making.

The Framing Effect: Influence of information presentation on decisions.

Considering information from different perspectives to counter the Framing Effect.

The Curse of Knowledge: Assuming others have the same understanding level leading to confusion.

Simplifying explanations to avoid the Curse of Knowledge.

The Pygmalion Effect: High expectations leading to better performance.

Setting high but realistic goals and believing in success to utilize the Pygmalion Effect.

The Consistency Principle: Desire to stick to previous commitments.

Sharing goals with others to increase likelihood of achieving them through the Consistency Principle.

The Planning Fallacy: Underestimating task completion time.

Avoiding the Planning Fallacy by considering past experiences and breaking tasks into smaller steps.

Confirmation Bias: Focusing on information that supports existing beliefs.

Seeking out information that opposes beliefs to avoid Confirmation Bias.

The Bandwagon Effect: Following what others are doing.

Making decisions based on personal values to counter the Bandwagon Effect.

The Endowment Effect: Valuing possessions more because of ownership.

Evaluating possessions objectively to avoid the Endowment Effect.

Transcripts

the illusion of

transparency the illusion of

transparency is when you overestimate

how much others can gauge your internal

States for example thinking people can

tell how nervous you are during a

presentation this happens because we are

highly aware of our own emotions and

often assume others can pick up on them

easily to counter this remind yourself

that others are less aware of your

internal struggles than you think

practice self-compassion and realize

that people are generally focused on

their own thoughts thought and feelings

rather than scrutinizing

yours the empathy Gap the empathy Gap

happens when you don't realize how your

emotions like hunger anger or pain

affect your decisions for example if you

go grocery shopping while you're hungry

you might buy more than you need to

avoid this notice when your feelings

might be influencing your choices try to

make decisions when you're calm and

neutral use strategies like taking a

moment to think before deciding or

asking someone else for their opinion

when you're feeling

emotional the ostrich effect the ostrich

effect is a term used to describe how

people avoid bad news it's like saying

they bury their heads in the sand like

an ostrich hoping their problems will go

away this means people might ignore or

avoid dealing with problems or

uncomfortable situations to feel less

anxious or stressed for example avoiding

checking your bank account statement

because you fear the high balance to

counter this make it a The Habit to

review your financial status regularly

so you can deal with these things before

they

snowball survivorship bias survivorship

bias is focusing on successful outcomes

and ignoring the failures imagine you're

looking at a group of successful

entrepreneurs you notice that many of

them dropped out of college you might

think dropping out of college is the key

to becoming successful however you're

only looking at the successful ones who

dropped out you're not considering the

many others who dropped out and didn't

become successful always consider what

you're not seeing ask what about those

who didn't make it this avoids decisions

based on incomplete info whether

studying businesses athletes or any

group get data on those who didn't

succeed as well look into both successes

and failures to get a complete

picture the hotand

fallacy the hotand fallacy is when you

believe that someone who has been

successful recently is more likely to

keep succeeding

for example thinking that A salesperson

who has closed several deals in a row

will definitely close the next one this

belief comes from our tendency to see

patterns in random events each event is

independent and not necessarily

influenced by past successes

understanding probability and Randomness

can help us make more rational

decisions the contrast effect the

contrast effect occurs when your

judgment is influenced by comparing

something with something else ever

notice how car salespeople show you a

clunker before presenting the amazing

new car they want to sell it's a trick

they're using the contrast effect to

make the new car look even better be

aware of this in marketing so you don't

get fooled When comparing

products chauffeur knowledge chauffeur

knowledge refers to someone appearing

knowledgeable without truly

understanding much like a parrot

repeating phrases for example consider a

person who uses fancy words but doesn't

really understand what they're talking

about don't be afraid to ask deeper

questions and seek explanations to see

if they're actually understanding what

they're

saying illusion of

averages the illusion of averages is the

mistaken belief that average figures

accurately represent the experiences of

individuals within a group for example

suppose you hear that the average test

score in a class is 85% you might assume

that most students scored around

85% however this average could be

affected by a few students who scored

very high and several who scored much

lower the average score doesn't reflect

the True Performance spread of the

students always look beyond the averages

think about the different scores how

they're spread out and other numbers to

see the whole picture this will help you

make better and more accurate

decisions the curse of

specificity the curse of specificity is

when detailed information seems more

convincing even if it's not relevant

sometimes a simple explanation is best

imagine a friend trying to convince you

of a movie by describing every single

scene information overload focus on the

key points to keep your audience engaged

and avoid getting bogged down in

irrelevant

details inability to close

doors the inability to close doors is

the struggle to make decisions due to

the fear of missing out on other

opportunities it's like keeping all the

doors open instead of closing some for

example picture yourself working on

three business ideas simultaneously you

know that focusing on just one would be

more productive but you don't want to

miss out on the progress of the other

two this might leave you scattered and

burnt out often leading to mediocre

outcomes or no progress at all focus on

one thing at a time and watch your

quality

improve the spotlight effect the

spotlight effect is the belief that

others notice your appearance or

mistakes more than they actually do

think of it this way

are you spending all day critiquing

other people's outfits probably not

remind yourself that most people are

usually more focused on themselves so

take a deep breath relax and enjoy being

yourself the halo effect the halo effect

is when one positive trait influences

your overall opinion of someone just

because someone is charming doesn't mean

they have good intentions or are

trustworthy we can be tricked by

positive first impression Impressions

into overlooking potential downsides

evaluate situations and people on their

own merits not first

impressions

reciprocity reciprocity is the sense of

obligation to return a favor when

someone does something for you for

example you might feel compelled to buy

a product after receiving a free sample

that free cookie at the store is a

tactic designed to get you browsing and

spending more be aware of when you're

being influenced by a perceived

obligation rather than genuine

desire the mere exposure effect the mere

exposure effect happens when seeing or

hearing something repeatedly makes you

like it more for example hearing a song

on the radio many times and eventually

liking it this effect can shape our

preferences and choices without us

noticing be mindful of the bias when

making decisions especially in marketing

and advertising to counteract it try new

experiences and seek out different

perspectives

Ives self-serving bias the self-serving

bias is when you take credit for success

but blame external factors for failures

for instance if you Ace an exam you

might attribute it to your hard work and

intelligence but if you do poorly you

might blame the teacher for making the

test too hard or the noisy room for

distracting you to avoid this bias

practice taking responsibility for your

own actions in both your successes and

failures this will help you learn and

get better

better the anchoring

effect the anchoring effect is when your

decisions are influenced by an initial

piece of information for example when

buying a dress if you first see a dress

priced at 500 you might think that a

$300 dress is a bargain even if it's

still expensive the initial $500 price

sets an anchor that makes other prices

seem more reasonable by comparison this

can lead you to spend more than you

originally intended always always look

at offers and decisions independently

not just in comparison to the first

option you

see negativity bias negativity bias is

the tendency to focus more on negative

events than positive ones for example

you might fixate on a single negative

comment even after receiving 100

positive ones to counter this shift your

perspective to focus on positive events

and practice

gratitude the sunk cost fallacy

the sunk cost fallacy is when you

continue an activity or project because

you've already invested time money or

effort into it rather than because it is

currently beneficial this is like

continuing to eat a terrible meal just

because you paid for it consider what

the best action is moving forward your

decisions should be based on potential

future benefits rather than past costs

the Paradox of choice the Paradox of

choice is the difficulty in making a

decision when faced with too many

options for example choosing a dish from

a menu with hundreds of items can be

overwhelming and make it hard to decide

what to eat narrow down your options and

those you offer to others for example if

you're selling three products

highlighting the bestselling one can

simplify the decision-making process and

boost the chances of making a

sale the framing effect the framing

effect occurs when your decision is

influenced by how information is

presented for example imagine a car

company advertises that their cars have

98% safety rating but now imagine they

say that two out of every 100 cars have

a safety failure both statements mean

the same thing but the second one sounds

much worse always consider information

from different perspectives before

making a

decision the curse of

knowledge the curse of knowledge occurs

when you assume that others have the

same level of understanding as you do

leading to confusion and

miscommunication this often happens when

using technical jargon or complex

concepts with someone unfamiliar with

the topic to avoid this simplify your

explanations and consider your

audience's perspective imagine you're

explaining it to a younger version of

yourself who is just starting to learn

by doing so you can make your

communication clearer and more

effective the pig Maan effect the pigmon

effect happens when high expectations

lead to better performance for example

if a teacher believes a student will do

well the student often performs better

this shows how powerful positive

expectations can be to use this effect

for yourself set high but realistic

goals believe in your ability to succeed

and you'll likely see better results

high expectations can motivate you to

achieve

more consistency principle the

consistency principle is the desire to

stick to what you've said or done before

for example if you tell your friends

you'll exercise three times a week

you're more likely to do it to stay true

to your word this principle helps you

keep promises and follow through on your

plans to use this share your goals with

others this makes you more likely to

achieve

them the planning fallacy the planning

fallacy is when you underestimate how

long a task will take to complete for

example you might think you can write a

report in 1 hour but it actually takes 3

hours to avoid this consider past

experiences and and add extra time to

your estimates break down the task into

smaller steps and assess how long each

part will realistically take this helps

ensure you have enough time to finish

your tasks without

rushing confirmation

bias confirmation bias is focusing only

on information that supports your

existing beliefs for instance only

reading news that aligns with your

political views this can limit your

understanding and reinforce your biases

to avoid this try and find information

that challenges your beliefs challenge

Yourself by seeking out information that

opposes your beliefs to get a balanced

perspective the bandwagon effect the

bandwagon effect is when you follow what

others are doing for example if all your

friends start using a new social media

app you might join in just because they

are to avoid this make decisions based

on your own likes and values think about

whether you really enjoy something or

are you just following the crowd by

staying true to self you can avoid being

influenced by the bandwagon

effect the endowment effect the

endowment effect is valuing something

more just because you own it for example

holding on to Old gadgets that you no

longer use to avoid this try to see your

possessions from an outsider's

perspective and evaluate their actual

usefulness action

bias action bias is when we prefer to do

something rather than nothing even even

if doing nothing is better this bias

occurs because taking action often makes

us feel more in control and productive

even if the actions are not helpful or

necessary for example during the UEFA

Euro Cup a coach might keep changing

players positions after a few losses

looking for a quick fix these constant

changes can hurt team performance

sometimes sticking to the original plan

works better recognizing action bias is

crucial as it helps us understand when

patience and in action might be more

beneficial than impulsive

actions the Dunning Krueger effect the

Dunning Krueger effect is when people

who aren't very skilled at something

think they're much better than they

really are for example someone who just

started cooking might believe they can

make gourmet dishes even though they

still have a lot to learn this effect

makes it hard for people to see their

own mistakes and improve to avoid this

stay humble keep learning and seek

feedback from others this helps you see

your true skill level and continue to

grow

the bedair mayoff

phenomenon the bedair mayoff phenomenon

also known as frequency illusion is when

you notice something new and then start

seeing it everywhere for example

learning a new word and suddenly seeing

it in different places this occurs

because our brains are good at spotting

patterns and noticing things that are

relevant to us to counter this

understand that this increased frequency

is a cognitive bias not always an

accurate reflection of reality

loss aversion loss aversion is the

tendency for people to prefer avoiding

losses rather than acquiring equivalent

gains for instance losing $20 feels

worse than the pleasure of finding $20

this can lead to excessive caution and

risk aversion to deal with this try to

think about the possible good outcomes

as well as the bad ones this can help

you make better choices and not miss out

on good

opportunities the Ikea effect the Ikea

effect is the phenomenon of valuing

something more because you had a hand in

creating it like that wonky bookshelf

you assembled yourself just because you

wrestled with Allen Keys doesn't mean

it's a masterpiece get honest feedback

from others to avoid overvaluing your

efforts the decoy effect the decoy

effect occurs when people's preferences

change due to the introduction of a

third option the decoy which is

asymmetrically dominated for example at

the movies you have three pop orn

choices small for $3 medium for $6.50

and large for 7 without the medium

option most people might choose the

small size because it's cheaper however

with the medium option present the large

size seems like a much better deal for

just 50 cents more this often leads

people to choose the large size here the

medium size is the decoy making the

large size look more attractive even

though the small size might have been

preferable without

it the availability heuristic the

availability heuristic is a mental

shortcut where people rely on immediate

examples that come to mind when making

decisions this often leads them to

overestimate how common or important

those examples are imagine you're

deciding whether to fly or drive for

your next vacation recently you heard

about a plane crash on the news because

this event is fresh in your mind you

think plane crashes are common and

decide to drive even though

statistically flying is much safer than

driving to avoid this check for real

facts and statistics before making a

decision the dero effect the dero effect

is when acquiring a new item leads to

additional purchases for example buying

a new phone and then feeling the need to

get matching accessories be mindful of

how one purchase can influence your

overall

spending the bystander effect the

bystander effect is the reduced

likelihood of helping someone in need

when others are present for example you

might not help in a public emergency

because you think someone else will to

counter this take personal

responsibility and act when you see

someone in need regardless of the crowd

around

you the gambler's fallacy the gambler's

fallacy is believing that past events

affect the probability of future ones in

random situations for example thinking

that a coin is due to land heads after

several Tales remember each event is

independent in random scenarios

hindsight bias hindsight bias is the

tendency to see events as having been

predictable after they have already

happened for example claiming and knew a

team would win after the match is over

recognize this bias and be honest about

what you truly knew before the

event the unity principle the unity

principle is about our tendency to favor

and feel closer to people who we

perceive as part of our group for

example trusting a recommendation from

someone who shares your interests or

background imagine you're in the market

for a new laptop a friend from your same

Hometown who also loves gaming like you

recommends a specific model even though

there are many reviews online you're

more likely to trust your friend

suggestion because you identify with

them and share common interests be aware

of this bias when making decisions

consider recommendations objectively and

evaluate all available information to

make the best choice not just those from

people you identify with this ensures

more balanced and informed

decisions reactant bias reactant bias is

the urge to do the opposite of what

someone tells you to maintain your

freedom for example wanting to break a

diet just because someone commented on

it focus on your own goals and the

reasons behind them rather than reacting

to others

comments the zigic effect the zaric

effect is the tendency to remember

unfinished tasks better than completed

ones for example you start writing an

email but get inter rupted and can't

finish it you're likely to keep thinking

about that unfinished email until you

complete it whereas you might quickly

forget about an email you've already

sent use this effect to your advantage

by breaking large tasks into smaller

unfinished segments this keeps them

fresh in your mind and helps you stay

motivated to complete them it's also

useful for studying or working on

projects as leaving tasks unfinished can

prompt you to come back and complete

them the ambiguity effect

the ambiguity effect is the tendency to

avoid choices with uncertain outcomes

for example sticking to familiar

products instead of trying new ones

imagine you're choosing between two

restaurants one is a popular chain

you've been to many times and the other

is a new place with no reviews you might

choose the chain restaurant simply

because you know what to expect even if

the new place could be better be aware

of this bias when making decisions

sometimes exploring options with unknown

outcomes can lead to better experiences

and opport opportunities don't let the

fear of the unknown hold you back from

trying something

new the end of History illusion the end

of History illusion is believing that

your current self is the final version

of you and that you won't change much in

the future to counter this remember that

change is constant think about how much

you've changed in the past and know that

your future self will continue to grow

Embrace this idea to stay open to new

experiences and opportunities for

personal

development hey you ever noticed

yourself falling into any of these

psychological traps share your

experiences in the comments below

remember these psychological traps are

just that traps but with a little

awareness and effort we can avoid them

and make smarter choices the more you

understand how your mind works the

better equipped you'll be to spot these

traps if something feels off it probably

is thanks for watching