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.