When I saw that the Reading Rainbow Kickstarter hit $1 million in less than a day

When I saw that the Reading Rainbow Kickstarter hit $1 million in less than a day

Department of War Math! Great talk by David McRaney. Illustration by Brad Clark

Department of War Math! Great talk by David McRaney. Illustration by Brad Clark

Craps against the high-rolling dark siders

“If one were to attempt to identify a single problematic aspect of human reasoning that deserves attention above all others, the confirmation bias would have to be among the candidates for consideration. Many have written about this bias, and it appears to be sufficiently strong and pervasive that one is led to wonder whether the bias, by itself, might account for a significant fraction of the disputes, altercations, and misunderstandings that occur among individuals, groups, and nations.”

The sunk cost fallacy is when someone makes a rational decision based on the future value of objects, investments and experiences. This article discusses how the popular computer game Farmville displays the sunk cost fallacy.

Survivorship Bias

Survivorship Bias

Survivorship Bias

The Misconception: You should focus on the successful if you wish to become successful. The Truth: When failure becomes invisible, the difference between failure and success may also become invisib.

Confirmation Bias – It’s Not What We Think We Know That Counts » Interaction Design Foundation

Confirmation Bias – It’s Not What We Think We Know That Counts

The Misconception: You should focus on the successful if you wish to become successful. The Truth: When failure becomes invisible, the difference between failure and success may also become invisib...

The Misconception: You should focus on the successful if you wish to become successful. The Truth: When failure becomes invisible, the difference between failure and success may also become invisib.

Survivorship Bias (Error)

Survivorship Bias (Error)

The Survivorship Bias convinces people that psychics are real

The Survivorship Bias convinces people that psychics are real

Survivorship Bias, Ghostbusters, Psychics, 80s Halloween Costumes, Peter O'toole

Fitness Professionals Fail to Understand Survivorship Bias

Fitness Professionals Fail to Understand Survivorship Bias

Survivorship bias. We usually only see the winners. The losers tend to disappear from the record. Which is why all the fund managers in the papers seem to be giving great returns, or starting the next Whatsapp or Instagram seems like such a sure fire way to get rich. We don';t see all the funds, apps and entrepreneurs who never made it.

Survivorship bias: a symptom of our time. We see only the winners. The losers disappear from the record. Do you know the stories of the apps and entrepreneurs who never made it?

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