The Cognitive Biases Tricking Your Brain

I suggest reading the whole article at the following link. Very interesting and eye-opening.

https://getpocket.com/explore/item/the-cognitive-biases-tricking-your-brain?utm_source=pocket-newtab

Science suggests we’re hardwired to delude ourselves. Can we do anything about it?
The Atlantic |
Ben Yagoda

•••••

present bias, which is the tendency people have, when considering a trade-off between two future moments, to more heavily weight the one closer to the present. A great many academic studies have shown this bias—also known as hyperbolic discounting—to be robust and persistent.

•••••

When asked whether they would prefer to have, say, $150 today or $180 in one month, people tend to choose the $150. Giving up a 20 percent return on investment is a bad move—which is easy to recognize when the question is thrust away from the present. Asked whether they would take $150 a year from now or $180 in 13 months, people are overwhelmingly willing to wait an extra month for the extra $30.

•••••

When people hear the word bias, many if not most will think of either racial prejudice or news organizations that slant their coverage to favor one political position over another. Present bias, by contrast, is an example of cognitive bias—the collection of faulty ways of thinking that is apparently hardwired into the human brain. The collection is large. Wikipedia’s “List of cognitive biases” contains 185 entries, from actor-observer bias (“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”) to the Zeigarnik effect (“uncompleted or interrupted tasks are remembered better than completed ones”).

Some of the 185 are dubious or trivial. The ikea effect, for instance, is defined as “the tendency for people to place a disproportionately high value on objects that they partially assembled themselves.” And others closely resemble one another to the point of redundancy. But a solid group of 100 or so biases has been repeatedly shown to exist, and can make a hash of our lives.

•••••

If I had to single out a particular bias as the most pervasive and damaging, it would probably be confirmation bias. That’s the effect that leads us to look for evidence confirming what we already think or suspect, to view facts and ideas we encounter as further confirmation, and to discount or ignore any piece of evidence that seems to support an alternate view. Confirmation bias shows up most blatantly in our current political divide, where each side seems unable to allow that the other side is right about anything.

•••••