Our Biased Brain

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Our Biased Brain
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General
Brain is the most imporant organ of the body,
according to brain ) Human brain capable of 1016
processes/sec 10 brain usage myth. Status of
robots.
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Cognitive biases
Genuine deficiency or limitation in our
thinking Cognitive biases help us process
information more efficiently, especially in
dangerous situations.
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Confirmation Bias
We love to agree with people who agree with us.
We're put off by sources which make us feel
uncomfortable or insecure about our views
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Ingroup Bias

• Creates bonding in ingroup
• Makes us suspicious and fearful for outside
  group.
• Overestimate the abilities and value of our
  immediate group at the expense of people we don't
  really know.

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Gambler's Fallacy
Belief that previous events somehow influence
future outcomes. Coin-tossing example Positive
expectation bias  luck has to eventually change
and that good fortune is on the way.
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Post-Purchase Rationalization
Subconsciously justifying our purchases
especially expensive ones Principle of
commitment, our psychological desire to stay
consistent and avoid a state of cognitive
dissonance.
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Neglecting Probability
Getting in car VS in aeroplane Terrorist attack
VS falling down from stairs Lottery ticket
probability Leads us to overstate the risks of
relatively harmless activities, while forcing us
to overrate more dangerous ones.
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Observational Selection Bias
Suddenly noticing things we didn't notice before
but we wrongly assume that the frequency has
increased. After buying new car, we notice same
car more often Feeling that the appearance of
certain things or events couldn't possibly be a
coincidence (even though it is).
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Status-Quo Bias
If it ain't broke, don't fix it We like to stick
to our routines, political parties, and our
favorite meals at restaurants. Assumption that
another choice will be inferior or make things
worse
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Negativity Bias
People tend to pay more attention to bad
news. ISRO Mars mission Vs any routine news
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Bandwagon Effect
We love to go with the flow of the
crowd. "groupthink" or hivemind mentality Why
opinion polls are often maligned Our built-in
desire to fit in and conform
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Projection Bias
We tend to assume that most people think just
like us though there may be no justification
for it. Even we think people also agree with us.
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The Current Moment Bias
Difficult to imagine ourselves in future and
alter behavior and expectation accordingly. Experi
ence pleasure in the current moment, while
leaving the pain for later.
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Anchoring Effect

• Tendency to compare and contrast only a limited
  set of items
• Items on sale in store and restaurant menus

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Conclusion
We humans are not good at taking rational
decisions, we're good at rationalizing decisions.
Awareness
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Further Reading
Full List of cognitive biases 
http//en.wikipedia.org/wiki/List_of_biases_in_jud
gment_and_decision_making Reference  http
//io9.com/5974468/the-most-common-cognitive-biases
-that-prevent-you-from-being-rational
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Created By
Ruchir Brahmbhatt Director, Ecosmob
Technologies Pvt. Ltd.
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