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In chapter 8, Ariely discusses how we overvalue what we have, and why we make irrational decisions about ownership. The idea of ownership makes us perceive the value of an object to be much higher if we own the object. This illustrates the phenomenon of the endowment effect—placing a higher value on property once possession has been assigned.
A review in O, The Oprah Magazine praised the book for "the scientific evidence it provides and the charm of its down-to-earth, commonsensical tone.” [3] A review in The Guardian described the book as "excellent" and suggests the quotation, "If mistakes were made, memory helps us remember that they were made by someone else,” should be ...
Collective Illusions: Conformity, Complicity, and the Science of Why We Make Bad Decisions is a 2022 book by author Todd Rose. The book illustrates that human thinking about one another is based on false assumptions that leads to bad decisions, and this makes the society mistrustful and individuals unhappy. [1] [2]
It has consistently been one or the other for six consecutive years for the Dolphins at quarterback, where one bad choice after another has left the franchise compromised, and even a decision that ...
Tendency to have selectivity in perception, attention, decision making, and motivation based on the biological state of the body. Anchoring bias: The inability of people to make appropriate adjustments from a starting point in response to a final answer. It can lead people to make sub-optimal decisions.
Once an action has been taken, the ways in which we evaluate the effectiveness of what we did may be biased. [3] It is believed this may influence our future decision-making. These biases may be stored as memories, which are attributions that we make about our mental experiences based on their subjective qualities, our prior knowledge and ...
The book focuses on why people make political decisions against their own self-interest, documenting the extent to which people are manipulated by bad-faith actors. [2] In the book, Moscrop argues that democracy is under threat but can be saved, emphasising the need for good process to resolve disagreements. [1]
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