What is Alternative Paths? And winning Russian Roulette Alternative paths are all the outcomes that could have happened, but did not. Put simply – success that comes about through risky dealings is, to a rational mind, is of less worth than success achieved the slower, harder and more mundane way.… Read More »What is Alternative Paths?
What is Halo Effect? And why everyone is beautiful at the top Cisco, the Silicon Valley firm, was once a darling of the new economy. Business journalists gushed about its success in every discipline: its wonderful customer service, perfect strategy, skilful acquisitions, unique corporate culture and charismatic CEO. In March… Read More »What is Halo Effect?
What is False Causality? And you shouldn’t nelieve in the stork For the inhabitants of the Hebrides, a chain of islands north of Scotland, head lice were a part of life. If the lice left their host, he became sick and feverish. Therefore, to dispel the fever, sick people had… Read More »What is False Causality?
What is Fundamental Attribution Error? And why you should never ask a writer if the novel is autobiographical Opening the newspaper, you learn that another CEO has been forced to step down because of bad results. In the sports section, you read that your team’s winning season was thanks to… Read More »What is Fundamental Attribution Error?
WHAT IS WINNER’S CURSE AND WHY YOU SHOULD CURB YOUR ENTHUSIASM Texas in the 1950s. A piece of land is being auctioned. Ten oil companies are vying for it. Each has made an estimate of how much the site is worth. The lowest assessment is $10 million, and the highest… Read More »What is Winner’s Curse?
A video explaining Exponential Growth by Rolf Dobelli the author of The Art of Thinking Clearly on the IDFC Mutual Fund Youtube Channel. What is Exponential Growth? And being stumped by a sheet of paper Consider the following 2 tasks: Task 1 A piece of paper is folded in two,… Read More »What is Exponential Growth?
WHAT IS SOCIAL LOAFING AND WHY TEAMS ARE LAZY In 1913 Maximilian Ringelmann, a French engineer, studied the performance of horses. He concluded that the power of two animals pulling a coach did not equal twice the power of a single horse. Surprised by this result, he extended his… Read More »What is Social Loafing?
A video explaining Loss Aversion Bias by Rolf Dobelli the author of The Art of Thinking Clearly on the IDFC Mutual Fund Youtube Channel. WHAT IS LOSS AVERSION AND WHY EVIL STRIKES HARDER THAN GOOD On a scale of 1 to 10, how good do you feel today? Now consider… Read More »What is Loss Aversion?
A video explaining Induction Bias by Rolf Dobelli the author of The Art of Thinking Clearly on the IDFC Mutual Fund Youtube Channel. WHAT IS INDUCTION BIAS AND HOW TO RELIEVE PEOPLE OF THEIR MILLIONS A farmer feeds a goose. At first, the shy animal is hesitant, wondering ‘What’s going… Read More »What is Induction?
What is Anchoring? And why the wheel of fortune makes our heads spin Anchoring is a cognitive bias where an individual depends too heavily on an initial piece of information offered to make subsequent judgments during decision making. Once the value of this anchor is set, all future negotiations, arguments,… Read More »What is Anchoring?
