Cognitive bias: money and social norms
Join me in this example that will make it easy for you to understand what social and money norms are. You have just bought a house for your family. The…
Cognitive bias : Procrastination
Procrastination is the action or habit of delaying activities or situations that should be attended to, replacing them with other less relevant situations that we find more enjoyable. “Good resolutions…
Cognitive bias : the decoy effect
You can invest in one of these three companies: Company A: a startup in the food sector Company B: a startup in the financial sector, which had some financial difficulties…
Cognitive bias: the power of free
The power of free Free delivery fees, buy one item to get the second item free, free entry fees,… many of our daily marketing offers include something free. The trick…
Cognitive Bias: The Monty hall Case
Congratulations! You have been invited to be on a famous TV game called Monty Hall. To win a beautiful car, you have to open the right door. The car is…
Cognitive bias: Gambler’s Fallacy
You need to recruit a junior manager for your retail department. You know that a lot of people are qualified for this job, equally men and women. Today, you are supposed to…
Cognitive Bias: Conjunction Fallacy
We work in an international import/export firm with an extremely large distribution of our products worldwide. We have just received
Cognitive Bias: The law of small numbers
A study carried out by an eminent institution in a poor, tropical country reveals that 20% of the inhabitants of a small rural village have a psychological disease, whose average…
Cognitive Bias: Simultaneous vs. Sequential Choice
Cognitive Bias: Simultaneous vs. Sequential Choice
Cognitive Bias: Familiarity bias
Do you prefer to bet on the decrease of the Dow Jones or the CAC40 on the first of next September? These questions have been asked in many economic experiments…