5 Ways your brain tricks you:
1. Anchoring Bias:
- The first piece of information, influences subsequent judgments or decisions.
- When shopping for a laptop, seeing the first one priced at $2K creates an anchoring bias.
- Later, a $1K laptop may seem like a good deal because your mind is anchored to the initial higher price.
- The first piece of information, influences subsequent judgments or decisions.
- When shopping for a laptop, seeing the first one priced at $2K creates an anchoring bias.
- Later, a $1K laptop may seem like a good deal because your mind is anchored to the initial higher price.
2. Sunk cost fallacy:
- The belief that we should continue investing in something just because we've already spent so much time and resources.
- Buying a movie ticket, realizing you don't like it, but staying because you paid is the example.
- It's better to leave and do something enjoyable, prioritizing happiness over past expenses.
- The belief that we should continue investing in something just because we've already spent so much time and resources.
- Buying a movie ticket, realizing you don't like it, but staying because you paid is the example.
- It's better to leave and do something enjoyable, prioritizing happiness over past expenses.
3. Groupthink:
- When everyone in a group wants to agree or fit in, so they don't share their own ideas or opinions.
- In a work meeting, everyone wants to agree with the boss's idea even if some of them have doubts.
- When everyone in a group wants to agree or fit in, so they don't share their own ideas or opinions.
- In a work meeting, everyone wants to agree with the boss's idea even if some of them have doubts.
4. The paradox of choice:
- Having too many choices makes it harder to decide, and when you finally pick, you end up feeling unsure if it's the best choice.
- Modern dating is an example. In the past, people simply married locals (Fewer options)
- Today, there are way more options, but more don't always mean finding a better match.
- Having too many choices makes it harder to decide, and when you finally pick, you end up feeling unsure if it's the best choice.
- Modern dating is an example. In the past, people simply married locals (Fewer options)
- Today, there are way more options, but more don't always mean finding a better match.
5. Zeigarnik effect:
- Our brain likes to remember and think about unfinished or incomplete tasks more than completed ones.
- It's the stress that makes you stay up at night.
- Write down a quick plan to finish the job. It will ease away the stress of incomplete tasks.
- Our brain likes to remember and think about unfinished or incomplete tasks more than completed ones.
- It's the stress that makes you stay up at night.
- Write down a quick plan to finish the job. It will ease away the stress of incomplete tasks.
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• My name is Jay, and I write about personal growth everyday
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• My name is Jay, and I write about personal growth everyday
• Follow me on X if you want more: @wealth_director
• If this is helpful, engage with this thread so more people can read it:
x.com
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