If you didn't find what you were looking for, try a new search!
Confirmation bias (Wason, 1960) occurs when people seek out or evaluate information in a way that fits with their existing thinking and preconceptions. The domain of science, where theories should advance based on both falsifying and supporting evidence, has not been immune to bias, which is often associated with people processing hypotheses in [...]
There have been a lot of juicy headlines in behavioral science around replicability and the falsification of data. I can’t help but wonder whether these spotlights are distracting (read: biasing) us from the potential and existing contributions of the field as a whole. Perceptions of behavioral science are just as vulnerable to our perceptions and biases. Is it possible that the field is suffering from the effects of its own contributions?
A potentially valuable feature of AI applied in the legal field is identifying insightful patterns of how specific courts and judges operate that elude human cognition. However, we should never forget that the relationship between humans and algorithms is always reflexive, and we can easily corrupt our quantitative-based prediction algorithms with biases.
A cognitive bias (e.g. Ariely, 2008) is a systematic (non-random) error in thinking, in the sense that a judgment deviates from what would be considered desirable from the perspective of accepted norms or correct in terms of formal logic. The application of heuristics is often associated with cognitive biases. Some biases, such as [...]
Successful innovation requires far more than a market gap, a visionary, funding, and new technology. Innovation is a behavioral process from start to finish. It relies on the decision-making processes and behaviors of both producers and consumers, as well as the surrounding support system. Behavioral science, the science of how we make decisions, has invaluable practical insights for innovation on all fronts.
While it’s true that self-confidence partially comes from the feeling that the people around us approve of us (something we can’t control), what we can control is how much emphasis we place on others’ opinions. Several of the thoughts that undermine - if not entirely diminish - our self-confidence come from systematic errors in judgement. Despite being commonly applied to economic decision-making, behavioural insights may explain how we, at times harshly and irrationally, judge ourselves.
A typical behavioral pattern of investors is to reduce stock market exposure after a crash. We suggest a simple nudge based on the IKEA effect and the endowment effect that reduces this problem substantially: In case of a market crash, stockholders who have chosen their own portfolios are more likely to stick with their investment choices.
At first glance, fake news and false memories appear to be separate phenomena. But they have much in common as dangerous sources of misinformation. This article argues that fake news generates false memories, which in turn leads to flawed decision-making. Ignoring this interplay amplifies risk for individuals, businesses and policymakers who rely on information accuracy. Behavioural science techniques can nudge decision-makers towards more proactive critical thinking and self-checking to minimise this predictable and avoidable error.
Sources: TED / TEDx * = Recommended viewing 2024 How to set the right goals and stay motivated Ayelet Fishbach You can't just "find" motivation, says scientist Ayelet Fishbach — you have to learn how to motivate yourself. She shares a handful of tips backed by 20 years of motivation research, offering surprisingly [...]
Information avoidance in behavioral economics (Golman et al., 2017) refers to situations in which people choose not to obtain knowledge that is freely available. Active information avoidance includes physical avoidance, inattention, the biased interpretation of information (see also confirmation bias) and even some forms of forgetting. In behavioral finance, for example, research has [...]
