12 Cognitive Biases Explained - How to Think Better and More Logically Removing Bias — Transcript

Full transcript

1. 0:00hey guys practice psychology here and in
2. 0:05this video we're going to be talking
3. 0:05about 12 cognitive biases most of these
4. 0:08were researched by is one off TV who has
5. 0:10some great animations on topics like
6. 0:12these and other self development topics
7. 0:14so check them out in the description or
8. 0:15on the end screen now let's get into it
9. 0:17number one is anchoring bias we humans
10. 0:19usually completely rely on the first
11. 0:21information that we received no matter
12. 0:23how reliable that piece of information
13. 0:24is when we take decisions the very first
14. 0:27information has tremendous effect on our
15. 0:29brain for instance i want to sell you a
16. 0:30car and you are interested to buy it
17. 0:33let's say you ask me what the prices and
18. 0:34I tell you thirty thousand dollars now
19. 0:36if you come back a week later and i say
20. 0:38i'll sell it to you for twenty thousand
21. 0:39dollars
22. 0:40this seems like a new very cheap price
23. 0:42to you right because your judgment is
24. 0:44based on the initial information you got
25. 0:45which was 30,000 you feel like you're
26. 0:47getting a great deal but let's say the
27. 0:50first time that you ask me and I say
28. 0:5110,000 and then you come back the next
29. 0:52week and i tell you i'm gonna sell to
30. 0:54you for 20,000 now it doesn't look like
31. 0:56a very good deal because of the
32. 0:57anchoring bias this is just a very
33. 0:59generic use of the anchoring bias and I
34. 1:01don't want a bunch of comments about why
35. 1:03thirty thousand dollar car should be
36. 1:04sold for ten thousand dollars but
37. 1:05another example is trees
38. 1:07what if I asked you if the tallest tree
39. 1:08in the world was higher or lower than
40. 1:101,200 feet and if so how tall the same
41. 1:13effect occurs if I asked you to guess
42. 1:15out of thin air instead of giving you an
43. 1:17anchor of 1,200 feet
44. 1:18the results are crazy number to
45. 1:20availability heuristic bias people
46. 1:23overestimate the importance of
47. 1:24information that they have let me give
48. 1:26you an example here some people think
49. 1:28that terrorism is the biggest threat to
50. 1:30the United States because that's what
51. 1:31they see on TV the news always talks
52. 1:33about it and because of that it inflates
53. 1:35the danger but if you look at the real
54. 1:37perspectives televisions cause 55 times
55. 1:40more deaths than terrorism
56. 1:42yes tvs literally following people and
57. 1:44kill them fifty five more times than
58. 1:45terrorism you're more likely to be
59. 1:47killed by a cow than a terrorist
60. 1:49according to the Consumer Product Safety
61. 1:50Commission it's more likely to die from
62. 1:52a coconut falling on your head and
63. 1:54killing you than a terrorist attack
64. 1:56thank you gary vaynerchuk for that one
65. 1:58even the police that are hired to
66. 1:59protect you from terrorists
67. 2:00it's estimated that you were a hundred
68. 2:02thirty times more likely to be killed by
69. 2:03the police and by a terrorist
70. 2:06that's because people do not make the
71. 2:07decision based on facts and statistics
72. 2:08but usually they make it on news and
73. 2:11stories and stuff they hear from other
74. 2:12people
75. 2:13it's way scarier to die from a terrorist
76. 2:15attack in a falling coconut and because
77. 2:17of this usually the news won't cover it
78. 2:19because there's not much money in it
79. 2:20number three is the bandwagon effect
80. 2:22people do or believe in something not
81. 2:24because they actually do believe it but
82. 2:26because that's what the rest of the
83. 2:27world believes in
84. 2:28in other words following the rest
85. 2:29without thinking if you've ever heard
86. 2:30someone say well if your friends jump
87. 2:32off a bridge would you then that someone
88. 2:35is accusing you of the bandwagon effect
89. 2:36it happens a lot with us
90. 2:38I mean a lot of people vote for a
91. 2:39certain candidate in the election
92. 2:40because he's the most popular or because
93. 2:42they want to be part of the majority it
94. 2:44happens a lot in the stock market too if
95. 2:45someone starts buying a stock because
96. 2:47they think it's going to rise then a lot
97. 2:48of other people are going to start
98. 2:49picking the stock as well it can also
99. 2:51happen during meetings if everyone
100. 2:52agrees on something you are more likely
101. 2:53to agree with him on that object in
102. 2:56management the opposite of this is
103. 2:57called the group think and it's
104. 2:59something companies try very hard to
105. 3:00turn because if nine out of ten people
106. 3:02agree on something for the last person
107. 3:04doesn't and won't speak up
108. 3:06it could squelch a great idea number
109. 3:08four is choice supportive bias so people
110. 3:10have the tendency to defend themselves
111. 3:11because it was their choice
112. 3:13just because I made the choice it must
113. 3:15be right for example let's say a person
114. 3:16buys an apple product
115. 3:18let's say it's a macbook instead of a
116. 3:19windows pc well he's more likely to
117. 3:22ignore the downsides or the faults of
118. 3:24the apple computer while pointing out
119. 3:25the downsides of the pc he's more likely
120. 3:28to notice the advantages of the apple
121. 3:30computer not the windows computer i
122. 3:31would someone point out that they made a
123. 3:33bad decision
124. 3:34well let's say you have a dog you think
125. 3:36it's awesome because it's your dog
126. 3:37although it might poop on the floor
127. 3:39every now and then the same goes for
128. 3:40political candidates not the pooping
129. 3:42part but they both may suck but one of
130. 3:45the lesser of two evils maybe more right
131. 3:46in your mind because you voted for them
132. 3:49number five confirmation bias we tend to
133. 3:51listen to information that confirms what
134. 3:53we already know or even interpret the
135. 3:55information that we receive in a way
136. 3:56that confirms the current information
137. 3:58that we already have let's say that your
138. 3:59friend believes that suites are
139. 4:01unhealthy this is generally a pretty
140. 4:02broad belief he will only focus on the
141. 4:05information that confirms what we
142. 4:06already know is more likely to click on
143. 4:08videos that confirmed that belief or
144. 4:09read articles that support his argument
145. 4:11he doesn't go through and type positive
146. 4:13health effects of increasing blood
147. 4:14glucose levels or positive effects of
148. 4:17eating a bowl of ice cream
149. 4:18no he will instinctively go to google
150. 4:20and type in how bad is sugar for you the
151. 4:22confirmation bias is a very dangerous in
152. 4:24scientific situations and
153. 4:25actually one of the most widely
154. 4:26committed cognitive biases number six
155. 4:29the ostrich bias this is the decision or
156. 4:32rather subconscious decision to ignore
157. 4:33the negative information it may also be
158. 4:35an indication we only want to consider
159. 4:37the positive aspects of something
160. 4:38this goes beyond are only looking for
161. 4:40the positive information but this is
162. 4:42when there is negative information and
163. 4:44we choose to ignore it as an outlier
164. 4:45sometimes even when we have a problem we
165. 4:47try to ignore it thinking it will go
166. 4:49away
167. 4:49let's say you have an assignment to do
168. 4:51it's not something that you really want
169. 4:52to do so you may just keep on
170. 4:53procrastinating with it because you're
171. 4:54minding said it will go away or is
172. 4:56solved by ignoring it
173. 4:58smokers usually they know it's bad for
174. 4:59their health but a lot of them keep
175. 5:01ignoring the negative implications of
176. 5:02cigarettes thinking it will not damage
177. 5:04them or might stop them before anything
178. 5:06serious will happen because they
179. 5:07consider themselves in our wire to avoid
180. 5:10finding out negative information we just
181. 5:11stop looking for it
182. 5:13this could be a serious crime in many
183. 5:14scientific research laboratories and
184. 5:16basically promotes ignorance number 7
185. 5:19outcome bias we tend to judge the
186. 5:21efficacy of a decision based primarily
187. 5:22on how things turn out after decision is
188. 5:25made we rarely examine the conditions
189. 5:27that existed at the time of the decision
190. 5:28choosing instead to evaluate performance
191. 5:30solely or mostly on whether the end
192. 5:33result was positive or not in other
193. 5:34words you decide whether an action is
194. 5:36right or wrong based on the outcome this
195. 5:37goes a little bit into consequentialism
196. 5:39but it goes hand-in-hand with the
197. 5:40hindsight bias let's say there's a
198. 5:42manager who wants to take the decision
199. 5:44his team and the data are telling him to
200. 5:45make one decision but his gut is telling
201. 5:47him to make another decision
202. 5:48well he goes ahead and makes the
203. 5:50decision that has got told him to do and
204. 5:52then in the end it was the right
205. 5:53decision
206. 5:53does that mean it's actually better to
207. 5:54trust your gut rather than listen your
208. 5:56team who is advising you based on facts
209. 5:58and statistics
210. 5:59well that's what the outcome biases you
211. 6:01take the decision and bass the
212. 6:02effectiveness of your decision on the
213. 6:03outcome even if it was luck
214. 6:05now this is bad logical thinking and
215. 6:07will actually lead you to ruin thinking
216. 6:09and bad outcomes in the long run number
217. 6:118 overconfidence sometimes you get too
218. 6:13confident and start taking decisions not
219. 6:15based on facts but based on your opinion
220. 6:17or gut because you have been correct so
221. 6:19many times in the past for example you
222. 6:21are a stock trader and you pick five
223. 6:23stocks in a couple years all of them
224. 6:25turn out to be successful and profitable
225. 6:26it increases your confidence to a point
226. 6:28where you can start believing that
227. 6:29whatever start you pick will be
228. 6:31successful it's quite dangerous because
229. 6:33you might stop looking at the facts and
230. 6:34solely rely on your opinion
231. 6:36check out the gamblers fallacy if you
232. 6:38want more information on this just
233. 6:40because you flip the coin five times and
234. 6:41it landed on heads doesn't mean that the
235. 6:43next time there's more than fifty
236. 6:44percent chance of it landing on ahead
237. 6:46again ego is the enemy is a great book
238. 6:48about this bias and i just made a book
239. 6:49review on it
240. 6:50number nine placebo bias when you
241. 6:53believe something will have a certain
242. 6:54effect on you then it will actually
243. 6:55cause that effect for instance you are
244. 6:58sick and the doctor gives you a certain
245. 6:59medicine even if that medicine does not
246. 7:01actually help you even if it's just made
247. 7:03of sugar you believe that it will help
248. 7:05you and it actually causes you to
249. 7:07recover quicker this might not sound
250. 7:09very logical but dozens of experiments
251. 7:11have proven this
252. 7:12that's why if you realize positive
253. 7:14people usually have positive life and
254. 7:15vice-versa the way you think is super
255. 7:17important and we've hit on this in
256. 7:19previous videos for the same reason a
257. 7:21lot of personal development books say
258. 7:22that if you really believe something you
259. 7:24will eventually achieve it or at least
260. 7:26find a way to achieve it because the
261. 7:28placebo effect will give you the
262. 7:29motivation that need the mind truly is a
263. 7:31powerful thing and this actually isn't
264. 7:33always bad thinking in fact you can use
265. 7:35a placebo effect in our advantage if we
266. 7:37use it wisely
267. 7:38there's actually a reverse of this and
268. 7:39it's called the nocebo and this is when
269. 7:41it is native number ten survivorship
270. 7:43bias this bias is when you are judging
271. 7:46something based on the surviving
272. 7:47information let me give you an example
273. 7:48here there are a lot of articles titled
274. 7:51like five things millionaires do every
275. 7:53morning
276. 7:53does that mean doing those things every
277. 7:55morning will make you a millionaire know
278. 7:57there are tons of people who did them
279. 7:58and didn't become a millionaire but
280. 7:59there are also tons of people who did
281. 8:01them and did become a millionaire
282. 8:02so these articles are primarily based on
283. 8:05the ones who survived and reject all
284. 8:07other people to do the same thing but
285. 8:08did not become millionaires
286. 8:10another example is to say that buildings
287. 8:12in an ancient city were built using
288. 8:13extreme engineering because they lasted
289. 8:15so long
290. 8:16this is a bad conclusion because you
291. 8:17aren't considering what ratio of
292. 8:19buildings were built to how many that
293. 8:20lasted
294. 8:21you're only seeing the ones that lasted
295. 8:23thousands of years of weathering when
296. 8:24the other ninety percent I've already
297. 8:25washed away it's hard to know what you
298. 8:28don't know
299. 8:29number 11 selective perception i like
300. 8:32this one
301. 8:32selective perception is a form of bias
302. 8:34that causes people to perceive messages
303. 8:36and actions according to their frame of
304. 8:37reference using selective perception
305. 8:39people tend to overlook and forget that
306. 8:42contradicts our beliefs or expectations
307. 8:44let's say for example you're a smoker
308. 8:45and you're a big fan of soccer
309. 8:47you're more likely to ignore
310. 8:49the negative advertisements about
311. 8:50cigarettes because since you are already
312. 8:51smoking you have this perception that
313. 8:53it's okay to smoke but there's an
314. 8:55advertisement about soccer you are more
315. 8:57likely to notice it because you have a
316. 8:58very positive perception about it
317. 9:00this is actually something really
318. 9:01interesting and has to do with how you
319. 9:02perceive the world due to your
320. 9:03subconscious mind and what it filters
321. 9:05out the last one is called the blind
322. 9:07spot bias if I asked you how biased you
323. 9:09are you would probably say that you are
324. 9:11less biased than the average person and
325. 9:13you are more likely to base your
326. 9:14judgment on facts and statistics and
327. 9:16that's what's known as a blind spot bias
328. 9:18or the bias bias your bias because you
329. 9:21think that you are less biased than
330. 9:22everyone else
331. 9:23for example i guess it's something to my
332. 9:26teacher and the next week she gave me a
333. 9:27good grade on a test if you ask her
334. 9:29whether she was biased when she gave me
335. 9:30that grade the answer will be that the
336. 9:32gift never affected her decision when
337. 9:34marking my paper but if you ask her if
338. 9:36other teachers are biased when students
339. 9:37give them gifts she will say yes
340. 9:39in most cases and that's what the blind
341. 9:41spot biases i really enjoyed creating
342. 9:43this video but most of the content was
343. 9:45curated by my friend is gone off he's
344. 9:47got a channel similar to mine and I'd
345. 9:48like you to check it out here or in the
346. 9:50description i hope you guys enjoyed this
347. 9:52video and learn something if you want
348. 9:53more valuables like this check out my
349. 9:55channel and subscribe thanks for
350. 9:56watching