The World's Best Book Summaries
What is action bias? Is being action-oriented a good thing? Action bias is the tendency to take action rather than waiting for a better opportunity or more information. While the bias towards action is better than procrastination, it may lead to hasty and reckless decisions. Here’s why bias towards action can sometimes do more harm than good.
What exactly is meant by the term “pseudo-profound bullsh*t”? Why do people find it so difficult to admit their ignorance? Pseudo-profound bullsh*t is a class of long-winded assertions that sound profound yet are meaningless. In his book The Art of Thinking Clearly, Rolf Dobelli calls it the “twaddle tendency” and attributes it to group membership. Keep reading to learn about the phenomenon of pseudo-profound bullsh*t.
Why do people make bad decisions? How do you make a decision when there are just too many variables to consider? Many times, you make bad decisions because you don’t have enough options, information, or experience to make logical ones. However, too many options, information, or experience can also inspire irrational decisions. Let’s take a look at the three situations where excess causes irrationality: 1) too much experience, 2) too many options, and 3) too much information.
What is loss aversion? Why does losing something have a stronger psychological impact compared to gaining something? As the name suggests, loss aversion is the tendency to have a stronger aversion to losing something compared to gaining something. Loss aversion is an evolutionary trait passed on from early humanity when losing something—be it belongings, weapons, or food supply—was often fatal. Being cautious and avoiding loss kept early humans alive and able to procreate, meaning their cautious genes survived to the current day. Keep reading to learn about the psychology of loss aversion.
What is fundamental attribution bias? Why do people fall for the attribution effect? Fundamental attribution bias (also known as correspondence bias or attribution effect) is a tendency to attribute others’ behavior to their disposition or personality and disregard external or environmental factors. The attribution effect is the by-product of the way your social brain works. Keep reading to learn about fundamental attribution bias, why it occurs, and how to avoid it.
What is the primacy and recency effect? Why do we tend to remember the first and the last items well, and the middle ones poorly? The primacy and recency effect (also known as the serial-position effect) is the tendency to recall the first and the last items in a series well, and the middle ones poorly. There’s no consensus as to why this phenomenon occurs, but there are a couple of theories. Keep reading to learn about the primacy and recency effect, why it occurs, and how to overcome it.
What is false causality? Why do we assume causality where there is none? Humans struggle to interpret cause and effect because they confuse correlation with causation, assuming causality where there is none. For example, if a person gets the flu after they start taking vitamins, they might assume a causal relationship—taking vitamins gave them the flu—simply because the timing coincides. Let’s consider some ways the assumption of causality (where there’s none) impairs logic.
What is the in-group, out-group bias? Why do we prioritize people who belong to our in-group? In-group, out-group bias is the tendency to favor and give preferential treatment to members of the same group. By categorizing yourself as a member of a group, you make that membership part of your identity and thus focus on its positive traits. Here’s why people tend to prioritize their in-group, according to Rolf Dobelli, the author of The Art of Thinking Clearly.
Is memory a fixed record of the past? Do we always recall memories in their original state? People believe their memories are untouchable, stored away, and recalled when needed in perfect condition. However, this isn’t the case. Memory errors are proof that memory isn’t a fixed record of past events—your memory of the past is affected by your feelings, opinions, and situation. Here are some of the most common fallacies and situations in which your memory is unreliable.
What is the law of very large numbers? How does the law of very large numbers help explain coincidences? The law of very large numbers is one of the key concepts in probability and statistics. The concept is quite simple: with a sample that’s large enough, even the most improbable events could happen. Keep reading to learn about the law of very large numbers and how it explains coincidences and improbable events.