Chapter 1 - Cognitive Bias

experience

perspectives about the world gained through involvement and interaction with particular situations

issues with experiences

people attempt to do training programs they previously did, but they no longer are appropiate or match their goals

example of reliance on experience

proffesional athletes doing workouts they used to in their 60s

vicarious experience

perspectives that are aquired through the involvement and interactions of another individual rather than the individuals own personal involvement and interactions with a situation

example of reliance on vicarious experience

fitness influencers dispensing advice on how to look like them

issue: genetics plays a role

may not be a good fit for the individual, increases risk of injury

confirmation bias

tendency to selectively value information that confirms or reinforces existing beliefs and perspectives

expertise

perspectives about the world gained through exceptional knowledge, understanding, and skill of a particular domain

the dunning-kruger effect

a cognitive bias whereby individuals with low ability/knowledge in an area tend to overestimate their ability/knowledge of that area

dunning kruger effect (knowlege vs conviction relationship)

as someone gains more knowledge, they start to realize how little they know

halo effect

cognitive bias whereby inaccurate characteristics are assigned to a subject based upon other known characteristics

issues with properly identifying experts leads to confusion of…

1. whom we should be seeking info from

2. how we should value info

examples of halo effect

• assuming athletes are going to be good coaches

• greater levels of expertise to those who are attractive

• someone who can tell a good story

how do we know an expert from a nonexpert

• experts can comprehend a situation, consider factors that matter, and make a decision to improve situation

• experts asusme that most people have greater understanding of their domain of expertise then they actually do

• experts have low conviction regarding their own knowledge

• non experts rely heavily on experiences and claim their experiences are the truth

• a tendency to be overconfident about knowledge and make absolute statements