What is Impostor Syndrome? Impostor Syndrome was first identified by psychologists Pauline Clance and Suzanne Imes in 1978. It refers to the experience of feeling like an imposter or a fake, despite having achieved success and external validation. People with Impostor Syndrome often feel like they: History of Impostor Syndrome The concept of Impostor Syndrome […]
Cognitive Biases: Illusion of Explanatory Depth
What is the Illusion of Explanatory Depth? The Illusion of Explanatory Depth was first identified by psychologists Leon Rozenblit and Frank Keil in 2002. It refers to the tendency for people to: History of the Illusion of Explanatory Depth The concept of the Illusion of Explanatory Depth was introduced by Leon Rozenblit and Frank Keil’s […]
Cognitive Biases: Hard-Easy Effect
What is the Hard-Easy Effect? The Hard-Easy Effect was first identified by psychologists in the 1990s and is also known as the “Self-Serving Bias” or“Illusion of Difficulty.” It refers to the tendency for people to: History of the Hard-Easy Effect The concept of the Hard-Easy Effect was introduced by psychologists David Dunning and Justin Kruger […]
Cognitive Biases: Hot-Cold Empathy Gap
What is the Hot-Cold Empathy Gap? The Hot-Cold Empathy Gap was first identified by psychologists Timothy Wilson and Daniel Gilbert in 2003. It describes the tendency for people to: History of the Hot-Cold Empathy Gap The concept of the Hot-Cold Empathy Gap was introduced by Timothy Wilson and Daniel Gilbert’s 2003 paper, “Affective Forecasting: Knowing […]
Cognitive Biases: The Dunning Kruger Effect
What is the Dunning-Kruger Effect? The Dunning-Kruger Effect occurs when an individual’s lack of knowledge or skills in a specific area leads them to: History of the Dunning-Kruger Effect David Dunning and Justin Kruger’s 1999 paper, “Unskilled and Unaware of It: How Difficulties in Recognizing One’s Own Incompetence Lead to Inflated Self-Assessments,” introduced the concept […]
Cognitive Biases: Status Quo Bias
What is Status Quo Bias? Status Quo Bias occurs when an individual’s preference for the status quo outweighs their consideration of alternative options or solutions. This can manifest in various ways, such as: History of Status Quo Bias The concept of Status Quo Bias was first introduced by psychologists William Samuelson and Richard Zeckhauser in […]
Cognitive Biases: Pseudocertainty Effect
What is the Pseudocertainty Effect? The Pseudocertainty Effect occurs when an individual’s confidence in their judgment or decision increases, despite the presence of ambiguity or uncertainty. This can lead to overconfidence and poor decision-making. For example, imagine you’re trying to predict the outcome of a coin toss. You might feel more confident in your prediction […]
Cognitive Biases: Loss Aversion
What is Loss Aversion? Loss Aversion occurs when an individual’s sensitivity to losses exceeds their sensitivity to gains. In other words, the pain of a loss outweighs the pleasure of a gain. For example, imagine you have $100 in your pocket. If someone takes $20 from you, you might feel a strong sense of loss […]
Cognitive Biases: Endowment Effect
What is the Endowment Effect? The Endowment Effect occurs when an individual’s subjective valuation of an object increases simply because they possess it. This means that people tend to place a higher value on objects they own, compared to identical objects owned by others. For example, imagine two identical coffee mugs: one belongs to you […]
Cognitive Biases: Dread Aversion
What is Dread Aversion? Dread Aversion occurs when an individual’s perception of risk is distorted by their emotional response to a potential outcome. People tend to overestimate the likelihood or severity of negative outcomes, such as accidents, illnesses, or financial losses, due to the fear and anxiety associated with these events. For example, imagine a […]