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The Framing Effect – Shaping Our Decisions
When faced with choices, we like to think we weigh the pros and cons objectively. However, the Framing Effect suggests otherwise. This cognitive bias reveals that the way information is presented can significantly influence our decisions. For instance, imagine you’re
The Availability Heuristic: Why We Overestimate the Unlikely
Have you ever been more afraid of flying than driving, despite knowing that statistically, driving is far more dangerous? This common misjudgment is a perfect example of the availability heuristic, a cognitive bias where we rely on immediate examples that
The Scarcity Heuristic – The Allure of the Limited Edition
Imagine you’re browsing through a store, and you spot a sign that reads, “Only 2 left in stock!” Instantly, you feel the urge to buy it. This is the scarcity heuristic at play—a cognitive bias that leads us to place
The Sunk Cost Fallacy – When to Cut Your Losses
Imagine investing time and money into a project that, despite your best efforts, shows little promise of success. Yet, you continue pouring resources into it, thinking, “I’ve already spent so much, I might as well see it through.” This phenomenon