{"id":60188,"date":"2022-02-14T09:47:00","date_gmt":"2022-02-14T13:47:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=60188"},"modified":"2022-02-14T12:02:39","modified_gmt":"2022-02-14T16:02:39","slug":"decision-making-biases","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/decision-making-biases\/","title":{"rendered":"Common Decision-Making Biases & How to Spot Them"},"content":{"rendered":"\n

Are your decisions rooted in rationality? What are some of the most common biases<\/a> in decision-making<\/a>?<\/p>\n\n\n\n

You probably think of yourself as a rational and logical human being who makes decisions based on logic and sensibility. However, your decision-making may not be as logical as you’d like to believe. Logical fallacies affect everyone, are extremely difficult to avoid, and can hinder your decision-making ability. <\/p>\n\n\n\n

Keep reading to learn about some of the most common decision-making biases, how to recognize them, and how to work around them. <\/p>\n\n\n\n\n\n\n\n

Alternative Blindness<\/h2>\n\n\n\n

Alternative blindness<\/a> is a decision-making bias<\/a> where you hone in on two options, neglecting alternatives. This bias can manipulate you to follow other people\u2019s plans. It makes Option A seem like your only choice when a different option could actually suit you better.<\/p>\n\n\n\n

To counter alternative bias, Dobelli recommends looking at underrepresented options.<\/strong> Often, a more moderate third option may fit your situation better than the extremes of Options A and B.<\/p>\n\n\n\n

For example, many people feel pressured to attend college. The situation is presented as Option A: Go to college and get a good job, vs. Option B: Don\u2019t go to college and don\u2019t get a good job. However, there are other options, including Option C: Go to trade school and get a good job, or Option D: Complete an<\/a> apprenticeship <\/a>and get a good job. Option A is considered \u201cstandard\u201d, but high tuition can make college a hindrance rather than a help. Looking at the underrepresented options can provide a more fulfilling and profitable experience than falling for alternative bias.<\/strong><\/p>\n\n\n\n

The Planning Fallacy<\/h2>\n\n\n\n

People make plans that fail because they believe themselves to be more capable than they really are. They overestimate the benefits of their actions and minimize the risk and cost involved in their plans.<\/p>\n\n\n\n

Dobelli recommends mitigating the planning fallacy<\/a> by estimating risks and costs higher than feels necessary and benefits lower than feels necessary. Also, avoid the impulse to plan in detail. Narrowing your focus on details<\/a> makes you more likely to be surprised by unexpected events, exacerbating the fallacy. <\/p>\n\n\n\n

Liking Bias<\/h2>\n\n\n\n

The liking bias<\/a> is the tendency to grant requests from people you know and like. This bias is often used in sales to influence purchasing decisions<\/a>. According to Dobelli, there are three main components to liking someone that are manipulated in marketing:<\/p>\n\n\n\n