Cognitive Biases: Psychology of Decision making(Part-01)
Even people who have knowledge of cognitive biases find it difficult to control themselves when they are exposed to these techniques. They are extremely powerful and even used unethically by many companies. So, what are the cognitive biases? Psychology of Human misjudgment, techniques, and principles that affect people’s subconscious mind. Psychology and marketing experts like Dr. Robert Cialdini developed these biases. You may have a question of why do we need to learn these biases? We can use these biases to convince people, pursue them to buy from us. We can use them in our meetings, marketing, commercials, websites, social media ads, and basically anywhere where we can ask people to do an action. This list of Cognitive biases is by Charlie Munger . It has 25 of them. But, I'm only going to discuss 21 of them in this blog. You can watch the whole video where he talks about these biases: Anyway, let’s learn about them. The first one is, 1)