The upside of irrationality – Availability bias

“I confine my exercise to sidestepping responsibility, jumping to conclusions, pushing my luck, flying off the handle, running up bills and stretching the truth.”

Unknown author

If a picture is worth a thousand words, then a video must be… well better. The upside of all this irrationality in your biases is that all researchers have been “forced” to make fun videos to illustrate their learnings. Now you have been through Dilberts guided safari tour through uncharted decision making territory and a ton of other exciting stuff, but let’s mix it up: You will get a hilarious video and a razor sharp quote the next six week to illustrate, why you – yes you – are irrational all the time!

We will go through all your six core bias groups of (the avid reader will notice how they perfectly conform to the quote above):

  • Availability bias – why you focus too narrowly
  • Confirmation bias – why you jump to conclusions
  • Overconfidence bias – why you overrate your own importance
  • Emotional bias – why you live by your feelings
  • Loss Aversion bias – why you hold on to things too long
  • Bounded Ethicality bias – why you lie all the time.

Lets kick it off with one my favorite videos and quotes about Availability bias:

“Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.”

Daniel Kahneman, Nobel Price Winner & author of Thinking Fast & Slow

Now almost no one gets this video, but of course you did, so pass it on to a friend to test them – after all it is good to laugh at yourself, but more fun to laugh at others… (sorry Danish irony may interrupt core messages here from time to time). Next week you will see, why you jump to conclusions all the time – stay tuned!

If you want to explore more or learn how to save you or your company from these every day mistakes, when you are making big decisions, please contact me at brian@behaviouralstrategygroup.com or +45-23103206.

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