4 Mental Shortcuts That Cloud Your Judgement

2015-03-26

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These cognitive biases affect how we make decisions–and it often happens subconsciously.

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More BrainCraft:

The Strange Location of Your Second Brain /youtube/video/dO6C_xVbqbo

The Bizarre Ways Your Name Affects Your Behavior /youtube/video/KQaD-JQkJWw

References:

The IKEA effect:

Norton, M. I., Mochon, D., & Ariely, D. (2011). The'IKEA effect': When labor leads to love. Harvard Business School Marketing Unit Working Paper, (11-091). http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1777100

Mochon, D., Norton, M. I., & Ariely, D. (2012). Bolstering and restoring feelings of competence via the IKEA effect. International Journal of Research in Marketing, 29(4), 363-369. http://www.sciencedirect.com/science/article/pii/S0167811612000584

The planning fallacy:

Buehler, R., Griffin, D., & Ross, M. (1994). Exploring the" planning fallacy": Why people underestimate their task completion times. Journal of personality and social psychology, 67(3), 366. http://homepages.se.edu/cvonbergen/files/2013/01/Exploring-the-Planning-Fallacy_Why-People-Underestimate-Their-Task-Completion-Times.pdf

Buehler, R., Griffin, D., & Ross, M. (2002). Inside the planning fallacy: The causes and consequences of optimistic time predictions. http://psycnet.apa.org/journals/psp/67/3/366/

Post purchase rationalisation:

Cohen, J. B., & Goldberg, M. E. (1970). The dissonance model in post-decision product evaluation. Journal of Marketing Research, 315-321. http://www.jstor.org/discover/10.2307/3150288?sid=21106131126863&uid=3739832&uid=2&uid=4&uid=3739256

The availability cascade:

Kuran, T., & Sunstein, C. R. (1999). Availability cascades and risk regulation.Stanford Law Review, 683-768. http://chicagounbound.uchicago.edu/cgi/viewcontent.cgi?article=1036&context=public_law_and_legal_theory&sei-redir=1&referer=https%3A%2F%2Fscholar.google.com%2Fscholar%3Fq%3Davailability%2Bcascade%26btnG%3D%26hl%3Den%26as_sdt%3D0%252C33#search=%22availability%20cascade%22