Every Bias Explained in 8 Minutes

Summary

This video script delves into various cognitive biases that influence human judgment and decision-making. It covers the bias blind spot, gambler's fallacy, omission bias, and several others, explaining how they shape our perceptions and actions. From the moral credential effect to the Dunning-Kruger effect, the script sheds light on the psychological phenomena that can lead to skewed interpretations of reality, offering insights into the intricacies of the human mind.

Takeaways

• 🤓 Bias Blind Spot: The tendency to believe one is less influenced by cognitive biases than others.
• 🎰 Gambler's Fallacy: The mistaken belief that past events influence future probabilities, despite them being independent.
• 🚫 Omission Bias: The moral judgment that inactions are less severe than harmful actions, even if the outcomes are the same.
• 🔄 Proportionality Bias: The assumption that significant events must have significant causes, potentially leading to conspiracy theory acceptance.
• 🏅 Moral Credential Effect: The phenomenon where doing good allows individuals to justify less ethical behavior in the future.
• ✅ Self-Serving Bias: Claiming more responsibility for successes than failures.
• 📊 Framing Effect: Drawing different conclusions from the same information based on its presentation.
• 👀 Actor-Observer Bias: Overemphasizing personality in others' actions and situational factors in one's own.
• 🖼 Picture Superiority Effect: Visual concepts are more easily recalled than textual ones.
• 💡 Outcome Bias: Judging decisions by their outcomes rather than the quality of decision-making at the time.
• 🔄 Mere Exposure Effect: Developing a preference for things simply because of familiarity.
• 🚀 Hard-Easy Effect: Overestimating ability to complete difficult tasks and underestimating easy ones.
• 👁 Survivorship Bias: Focusing on survivors of a process and overlooking those who did not survive.
• 🔍 Baader-Meinhof Phenomenon: Noticing something frequently after it has come to attention, creating an illusion of high frequency.
• 📈 Availability Heuristic: Overestimating the likelihood of events based on how easily they come to mind.
• 📊 Dunning-Kruger Effect: Unskilled individuals overestimating their abilities, while experts underestimate theirs.
• 🌟 Halo Effect: Positive or negative traits influencing perceptions of other personality areas.
• 🎭 Pygmalion Effect: High expectations leading to improved performance, often seen as a self-fulfilling prophecy.
• 🚫 Decoy Effect: A third option influencing preference between two others, especially when it is asymmetrically dominated.
• 📈 Selection Bias: Bias introduced by non-random selection of data for analysis, affecting representativeness.
• 📍 Anchoring Bias: Relying heavily on initial information, affecting decision-making and negotiations.
• 🔍 Confirmation Bias: Seeking, interpreting, and remembering information that confirms pre-existing beliefs.
• 😎 Overconfidence Effect: Excessive confidence in one's own answers, often leading to incorrect assumptions.
• 🌐 Egocentric Bias: Overestimating one's own perspective and abilities, including the False Consensus and False Uniqueness biases.
• 📚 Information Bias: Seeking information even when it does not affect action.
• 👁 Hindsight Bias: Perceiving past events as more predictable than they were at the time.
• 🔮 Projection Bias: Assuming future selves will share current preferences, leading to suboptimal choices.
• 🔗 Apophenia: Perceiving meaningful connections between unrelated things, contributing to stereotypes.
• 📝 Serial Position Effect: Better recall of first and last items in a list compared to the middle ones.
• 📅 Recency Bias: Giving more importance to recent events, affecting memory and decision-making.
• ⚖️ Authority Bias: Attributing greater accuracy to the opinions of authority figures regardless of content.
• 🍽️ Unit Bias: Consuming standard serving sizes even when they are excessive.
• 🌐 Availability Cascade: Beliefs gaining plausibility through repetition in public discourse.
• 🚂 Bandwagon Effect: Following the actions of others due to conformity or perceived accuracy.
• 🕊️ Illusory Truth Effect: Identifying statements as true based on familiarity, even without conscious memory.
• 🎤 Next in Line Effect: Diminished recall for the words of the person who spoke immediately before in a group.
• 👥 Ingroup Bias: Favoring members of one's own group due to frequent interaction and perceived uniqueness.
• 💡 Spotlight Effect: Overestimating how much others notice one's appearance or behavior.
• 📈 Choice Supportive Bias: Remembering choices as better than they were due to positive attribution to selected options.
• 🐦 Ostrich Effect: Avoiding potentially negative but useful information to prevent discomfort.
• 🔍 Selective Perception Bias: Ignoring or forgetting stimuli that cause discomfort or contradict beliefs.
• 📊 Peak-End Rule: Perceiving experiences based on their peak and end, rather than the overall sum.

Q & A

What is the bias blind spot?

The bias blind spot is the tendency to think that oneself is less affected by cognitive biases compared to others.

Can you explain the gambler's fallacy?

The gambler's fallacy is the tendency to think that future probabilities are altered by past events when in reality they are unchanged.

What is omission bias?

Omission bias is the tendency to judge harmful actions as worse or less moral than equally harmful inactions.

Define proportionality bias.

Proportionality bias is our innate tendency to assume that big events have big causes, which may also explain our tendency to accept conspiracy theories.

What is the moral credential effect?

The moral credential effect occurs when someone who does something good gives themselves permission to be less good in the future.

What does the self-serving bias entail?

The self-serving bias is the tendency to claim more responsibility for successes than failures.

Explain the framing effect.

The framing effect is the tendency to draw different conclusions from the same information depending on how that information is presented.

What is actor-observer bias?

Actor-observer bias is the tendency to explain other individuals' behaviors by overemphasizing their personality and underemphasizing their situation, while doing the opposite for oneself.

Describe the picture superiority effect.

The picture superiority effect is the notion that concepts learned by viewing pictures are more easily and frequently recalled than concepts learned by viewing their written word form counterparts.

What is outcome bias?

Outcome bias is the tendency to judge a decision by its eventual outcome instead of the quality of the decision at the time it was made.

Outlines

00:00

🧠 Cognitive Biases Overview

This paragraph delves into a variety of cognitive biases that influence human judgment and decision-making. It covers the bias blind spot, where individuals perceive themselves as less affected by biases than others. The gambler's fallacy is discussed, highlighting the mistaken belief that past events influence future probabilities. Omission bias is noted, where inactions are judged more harshly than harmful actions. Proportionality bias, moral credential effect, self-serving bias, and framing effect are also mentioned, each illustrating different ways our minds can skew our perceptions and choices. The paragraph further explores the anchoring bias, confirmation bias, and overconfidence effect, among others, revealing the complexity of cognitive biases in everyday life.

05:02

🔍 Exploring More Cognitive Biases and Their Impacts

The second paragraph continues the exploration of cognitive biases, focusing on how they can lead to suboptimal choices and misjudgments. It starts with the projection bias, where individuals assume their future selves will align with current preferences. Apophenia, the tendency to find patterns in unrelated things, is discussed, as well as the serial position effect, which influences memory recall. Recency bias, authority bias, and unit bias are also highlighted, showing how they can affect our reliance on authority figures and consumption habits. The paragraph touches on the availability cascade and bandwagon effect, explaining how repeated information and social conformity can shape beliefs. It concludes with the spotlight effect, ingroup bias, and the peak-end rule, emphasizing the psychological impact of these biases on our perception of self and others.

Keywords

💡Bias Blind Spot

Bias blind spot is the tendency to believe that oneself is less susceptible to cognitive biases than others. This concept highlights our lack of self-awareness regarding our own biases, emphasizing the theme of the video that everyone is affected by biases, often without realizing it.

💡Gambler's Fallacy

Gambler's fallacy occurs when individuals believe that future probabilities are influenced by past events, despite each event being independent. The video uses this to illustrate how people mistakenly think previous outcomes affect future chances, highlighting a common cognitive error.

💡Omission Bias

Omission bias is the tendency to judge harmful actions as worse or less moral than equally harmful inactions. This bias underscores the video's theme that our moral evaluations are often skewed by whether harm is caused by action or inaction.

💡Proportionality Bias

Proportionality bias is the belief that significant events must have significant causes. This bias can lead to the acceptance of conspiracy theories, as discussed in the video, showing how our need for explanations can lead to erroneous beliefs.

💡Moral Credential Effect

The moral credential effect occurs when a person who has done something good gives themselves permission to be less good in the future. This concept in the video illustrates how past good deeds can influence one's self-perception and future behavior.

💡Self-Serving Bias

Self-serving bias is the tendency to attribute successes to oneself and failures to external factors. The video discusses this bias to show how people distort reality to maintain a positive self-image.

💡Framing Effect

The framing effect is the tendency to draw different conclusions from the same information depending on how it is presented. This concept in the video demonstrates how the presentation of information can significantly influence decision-making and judgment.

💡Actor-Observer Bias

Actor-observer bias is the tendency to attribute others' actions to their character while attributing one's own actions to situational factors. The video uses this bias to explain how we perceive and judge others differently than ourselves.

💡Outcome Bias

Outcome bias is the tendency to judge a decision by its eventual outcome rather than the quality of the decision at the time it was made. The video highlights this bias to show how we often evaluate past decisions based on their results rather than the decision-making process.

💡Dunning-Kruger Effect

The Dunning-Kruger effect is the tendency for unskilled individuals to overestimate their own ability and for experts to underestimate theirs. The video discusses this bias to illustrate how people's self-assessments can be inaccurate, affecting their confidence and competence perceptions.

Highlights

Bias Blind Spot: The tendency to believe one is less affected by cognitive biases than others.

Gambler's Fallacy: Misbelief that past events influence future probabilities in unpredictable events.

Omission Bias: Judging inactions as less moral than harmful actions of equal consequence.

Proportionality Bias: Assuming large events have large causes, potentially leading to conspiracy theory acceptance.

Moral Credential Effect: Good actions may lead to permission for less good behavior in the future.

Self-Serving Bias: Claiming more responsibility for successes than failures.

Framing Effect: Drawing different conclusions from the same information based on its presentation.

Actor-Observer Bias: Differentiating the influence of personality and situation on behavior explanations.

Picture Superiority Effect: Visual concepts are more easily recalled than textual counterparts.

Outcome Bias: Judging decisions by their outcomes rather than the quality of decision-making at the time.

Mere Exposure Effect: Developing preferences for things based on familiarity alone.

Hard-Easy Effect: Overestimating abilities for difficult tasks and underestimating for easy ones.

Survivorship Bias: Overlooking those who did not survive a process due to lack of visibility.

Baader-Meinhof Phenomenon: The illusion of increased frequency of something noticed recently.

Availability Heuristic: Overestimating the likelihood of events based on ease of recall.

Dunning-Kruger Effect: Unskilled individuals overestimating their abilities, experts underestimating theirs.

Halo Effect: Positive or negative traits influencing overall perceptions of a person.

Pygmalion Effect: High expectations leading to improved performance, a self-fulfilling prophecy.

Decoy Effect: Marketers use a third option to influence preference between two existing options.

Selection Bias: Non-random selection of data leading to unrepresentative samples.

Anchoring Bias: Relying too heavily on initial information, affecting decision-making processes.

Confirmation Bias: Focusing on information that confirms pre-existing beliefs.

Overconfidence Effect: Excessive confidence in one's own answers, often leading to errors.

Egocentric Bias: Overestimating one's own perspective and abilities.

Information Bias: Seeking information that does not affect action, potentially skewing decisions.

Hindsight Bias: Perceiving past events as more predictable than they were at the time.

Projection Bias: Assuming future selves will share current preferences, leading to poor choices.

Apophenia: Perceiving meaningful connections in unrelated things, contributing to stereotypes.

Serial Position Effect: Better recall of first and last items in a list compared to the middle ones.

Recency Bias: Giving more importance to the most recent events or information.

Authority Bias: Attribution of greater accuracy to opinions of authority figures regardless of content.

Unit Bias: Consuming standard serving sizes even when they are excessive.

Availability Cascade: Beliefs gaining plausibility through repetition, potentially leading to misinformation.

Bandwagon Effect: Conforming to popular actions or opinions, influenced by social proof.

Illusory Truth Effect: Increased likelihood of accepting statements as true due to repeated exposure.

Next in Line Effect: Diminished recall for the speaker immediately before in a group setting.

Ingroup Bias: Favoritism towards members of one's own group due to familiarity and interaction.

Spotlight Effect: Overestimating how much others notice one's appearance or behavior.

Choice Supportive Bias: Remembering choices as better due to positive attribution to selected options.

Ostrich Effect: Avoiding negative but useful information to prevent psychological discomfort.

Selective Perception Bias: Ignoring or forgetting information that contradicts prior beliefs.

Peak-End Rule: Perception of experiences based on their peak and end, rather than the overall sum.

Transcripts

bias blind spot the tendency to think

that oneself is less affected by

cognitive biases compared to others

gamblers fallacy gamblers fallacy

happens when there's a tendency to think

that future probabilities are altered by

past events when in reality they are

unchanged Omission bias it's the

tendency to judge harmful actions as

worse or less moral than equally harmful

inactions proportionality bias our

innate tendency to assume that big

events have big causes which may also

explain our tendency to accept

conspiracy theories moral credential

effect it occurs when someone who does

something good gives themselves

permission to be less good in the future

self-serving bias it's the tendency to

claim more responsibility for successes

than failures framing effect the framing

effect is the tendency to draw different

conclusions from the same information

depending on how that information is

presented this includes the contrast

effect which is the enhancement or

reduction of a certain stimulus's

perception when compared with a recently

observed contrasting object actor of

Observer Bias it's the tendency for

explanations of other individuals

behaviors to overemphasize the influence

of their personality and underemphasize

the influence of their situation and for

explanations of One's Own behaviors to

do the opposite picture superiority

effect the notion that Concepts that are

learned by viewing pictures are more

easily and frequently recalled than are

Concepts that are learned by viewing

their written word form counterparts

outcome bias it's the tendency to judge

a decision by its eventual outcome

instead of the quality of the decision

at the time time it was made mere

exposure effect the mere exposure effect

is a psychological phenomenon by which

people tend to develop liking or

disliking for things merely because they

are familiar with them hard easy effect

it's the tendency to overestimate one's

ability to accomplish hard tasks and

underestimate one's ability to

accomplish easy ones survivorship bias

survivorship bias happens when

concentrating on the people or things

that survived some process and

inadvertently overlooking those that did

not because of their lack of visibility

bot mind mhof phenomenon the bot mhof

phenomenon also called frequency

illusion is the illusion where something

that has recently come to one's

attention suddenly seems to appear with

very high frequency shortly afterwards

the reality is that before we placed our

attention on that element we just

ignored it availability heris the

availability heris is the tendency to

overestimate the likelihood of events

that easily come to mind the

availability of memories can be

influenced by how recent they are or how

unusual or emotionally charged they may

be Dunning Krueger effect it's the

tendency for unskilled individuals to

overestimate their own ability and the

tendency for experts to underestimate

theirs halo effect it's the tendency for

a person's positive or negative traits

to spill over from one personality area

to another in others perceptions of them

pyan effect the phenomenon whereby

others expectations of a Target person

affect the target person's behavior in a

self-fulfilling prophecy decoy effect

this bias is widely used in marketing

it's the phenomenon whereby consumers

will tend to have a specific change in

preference between two options when also

presented with a third option that is

asymmetrically dominated an option is

asymmetrically dominated when it is

inferior in all respects to one option

but in comparison to the other option it

is inferior in some respects and

Superior in others selection bias

selection bias is the bias introduced by

the selection of individuals groups or

data for analysis in such a way that

proper randomization is not achieved

thereby failing to ensure that the

sample obtained is representative of the

population intended to be ized anchoring

bias the anchoring bias is the tendency

to rely too heavily on one trait or

piece of information when making

decisions usually the first piece of

information acquired on that subject

this is why first impressions are so

important they paint a picture of what

the other person is and that picture

gets anchored making it hard to change

this bias is often exploited during

negotiations when the seller gives a

seemingly unreasonable high price that

price becomes the starting point for the

negotiation and the buyer inadequately

adjusts from it confirmation bias

confirmation bias is the tendency to

search for interpret focus on and

remember information in a way that

confirms one's preconceptions

overconfidence effect the overconfidence

effect is the tendency to have excessive

confidence in one's own answers to

questions for example for certain types

of questions answers that people rate as

99% certain turn out to be wrong 40% of

the time egocentric bias egocentric bias

is the tendency to rely too heavily on

one's own perspective or have a higher

opinion of oneself than reality examples

of this are The False Consensus Effect

which is the tendency for people to

overestimate the degree to which others

agree with them and the false uniqueness

bias which is the tendency of people to

see their projects and themselves as

more singular than they actually are

information bias information bias is a

cognitive bias to seek information when

it does not affect action hindsight bias

the hindsight bias is sometimes called

the I knew it all along effect and it is

the common tendency for people to

perceive past events as having been more

more predictable than they actually were

projection bias it's the tendency to

overestimate how much one's future

selves will share one's current

preferences thoughts and values thus

leading to suboptimal choices apophenia

apophenia is the tendency to perceive

meaningful connections between unrelated

things this bias is one of the ways a

stereotype can lead people to expect

certain groups and traits to fit

together and then to overestimate the

frequency with which these correlations

actually occur another type of apophenia

is parolia which happens for example

when you see images of animals in the

clouds serial position effect the serial

position effect is the tendency of a

person to recall the first and last

items in a list better than the middle

ones recency bias the recency bias gives

greater importance to the most recent

event such as an interviewer who can

vividly remember just the last person he

interviewed because they're the most

recent conversation they had it's

related to the serial position effect

Authority bias Authority bias is the

tendency to attribute greater accuracy

to the opinion of an authority figure no

matter what the the opinions content is

unit bias the standard suggested amount

of consumption like the food serving

size that's perceived to be appropriate

a person would consume it all even if it

was too much for that particular person

a avilability Cascade it's a

self-reinforcing process in which a

collective belief gains more and more

plausibility through its increasing

repetition in public discourse it can be

summarized in the phrase repeat

something long enough and it will become

true it's related to the availability

heuristic bandwagon effect it's the

tendency to do things because many other

people do the same this effect can

happen for two reasons conformism when

someone wants to fit in with others or

lack of information where the person

thinks that the opinion of many people

is probably more accurate than just his

illusory truth effect people are more

likely to identify as true statements

those they have previously heard even if

they cannot consciously remember having

heard them next in line effect when

taking turns speaking in a group using a

predetermined order like going clockwise

around a room people tend to have

diminished recall for the words of the

person who spoke immediately before them

ingroup bias ingroup bias is the

tendency for people to give preferential

treatment to others they perceive to be

members of their own groups it usually

happens because we encounter and

interact with people in our group much

more frequently than with strangers this

makes people in our group seem unique

while people outside of our group seem

boring and conformist the mere exposure

effect also plays a role in this bias

Spotlight effect it's the Sensation that

everybody is focused on us that comes

from overestimating the extent to which

other people notice our appearance or

behavior chice supportive bias the

tendency to remember our choices as

better than they actually were because

we tend to over attribute positive

features to options we chose and

negative features to options not chosen

ostrich effect people tend to bury their

head in the sand and avoid potentially

negative but useful information just to

avoid psychological discomfort selective

perception bias it's the tendency not to

notice and more quickly forget stimuli

that cause emotional discomfort and

contradict our prior beliefs Peak and

Rule people seem to perceive not the sum

of an experience but the average of how

it was at its peak and how it ended I'll

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