Jay Daverth's Quotes

in Cognitive Biases

Information bias – the tendency to seek information even when it cannot affect action.

in Cognitive Biases

Interloper effect – the tendency to value third party consultation as objective, confirming, and without motive. Also consultation paradox, the conclusion that solutions proposed by existing personnel within an organization are less likely to receive support than from those recruited for that purpose.

in Cognitive Biases

Irrational escalation – the phenomenon where people justify increased investment in a decision, based on the cumulative prior investment, despite new evidence suggesting that the decision was probably wrong.

in Cognitive Biases

Just-world phenomenon - the tendency to rationalize an inexplicable injustice by searching for things that the victim might have done to deserve it.

in Cognitive Biases

Loss aversion – the disutility of giving up an object is greater than the utility associated with acquiring it. (see also sunk cost effects and Endowment effect).

in Cognitive Biases

Mere exposure effect – the tendency to express undue liking for things merely because of familiarity with them.

in Cognitive Biases

Bandwagon effect – the tendency to do (or believe) things because many other people do (or believe) the same. Related to groupthink and herd behavior.

in Cognitive Biases

Base rate fallacy – the tendency to ignore available statistical data in favor of particulars.

in Cognitive Biases

Bias blind spot – the tendency not to compensate for one's own cognitive biases.

in Cognitive Biases

Choice-supportive bias – the tendency to remember one's choices as better than they actually were.