What is Money Illusion? Money illusion refers to the tendency for people to perceive the nominal value of money (i.e., its face value) rather than its real purchasing power. This means that: Causes of Money Illusion Consequences of Money Illusion Examples of Money Illusion Strategies to Overcome Money Illusion The Opposite of Money Illusion Conclusion […]
Cognitive Biases: Interoceptive Bias
What is Interoceptive Bias? Interoceptive bias refers to the tendency for people to overtrust their internal bodily sensations and sensations whenevaluating information, making decisions, or predicting outcomes. This can cause them to: In essence, interoceptive bias occurs when individuals: Causes of Interoceptive Bias Consequences of Interoceptive Bias Examples of Interoceptive Bias Strategies to Overcome Interoceptive […]
Cognitive Biases: Information Biases
What is Information Bias? Information bias refers to the tendency for people to rely too heavily on available information, even when it’s insufficient or unreliable. This can cause them to overlook alternative explanations, ignore contradictory evidence, or fail to consider new information that might contradict their existing beliefs. In essence, information bias occurs when individuals: […]
Cognitive Biases: Impact Bias
What is the Impact Bias? The impact bias refers to the tendency to overestimate the potential impact or significance of an event or decision on our future emotional state. In other words, people tend to believe that their current emotions will persist in the same intensity after a particular event occurs. This bias can manifest […]
Cognitive Biases: Hindsight Bias
What is the Hindsight Bias? The hindsight bias refers to the tendency to believe, after an event has occurred, that one would have predicted or prevented it. In other words, people tend to think they knew something was going to happen, even if they had no way of knowing it at the time. This bias […]
Cognitive Biases: Hedonic Recall Bias
What is the Hedonic Recall Bias? The hedonic recall bias refers to the cognitive tendency to remember past experiences in a way that is biased by theiremotional tone. Specifically, individuals tend to recall pleasant memories more vividly and accurately than unpleasant ones, while also distorting or forgetting details of painful or traumatic events. Causes of […]
Cognitive Biases: Fundamental Pain Bias
What is the Fundamental Pain Bias? The fundamental pain bias refers to the cognitive tendency to perceive and respond to painful stimuli in an exaggerated or distorted manner. This phenomenon leads individuals to overestimate the severity of their current or future pain, often resulting in increased anxiety, avoidance behaviors, and decreased quality of life. Causes […]
Cognitive Biases: Form Function Attribution Bias
What is the Form Function Attribution Bias? The form function attribution bias refers to the cognitive tendency to assume that an object’s appearance or design directly relates to its intended purpose or functionality. This phenomenon leads individuals to attribute human-like qualities or intentions to non-human entities, often resulting in misinterpretations or overestimations of their capabilities. […]
Cognitive Biases: Exaggerated Expectation
What is the Exaggerated Expectation Bias? The exaggerated expectation bias refers to the cognitive tendency to overestimate the impact or magnitude of a future event or outcome. This phenomenon leads individuals to exaggerate the benefits or drawbacks of an anticipated event, often resulting in unrealistic expectations. Causes of the Exaggerated Expectation Bias: Consequences of the […]
Cognitive Biases: End-of-history Illusion
What is the End-of-History Illusion? The end-of-history illusion refers to the cognitive bias where people believe that they have reached a turning point in their lives or careers, after which everything will remain stable and unchanged. This phenomenon leads individuals to overestimate the significance of their current achievements and underestimate the potential for future growth […]