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Heuristics
Mental shortcuts that help us make decisions quickly and efficiently
Etymology
means to find or discover. Also means the discovery of words
Cognitive Biases
Mental blinders that tend to make us think based on incomplete or otherwise limited information
Selection bias
When an incomplete set of inputs is considered, or one that is insufficiently randomized. (ex. a survey of only strong students)
Survivorship Bias
A form of selection bias that leaves out a significant group of inputs that have been “left behind”
Availability Bias
The tendency to think based only on the most accessible, memorable, or sensational data, leaving out the rest. (ex. overrating the danger of plane crashes or the likelihood of shark attacks)
Negativity Bias
We tend to give more weight to a negative or disruptive inputs than to positive or less notable ones
Conformation Bias
When we pay more attention to data likely to support our existing beliefs. (ex. watching only/mostly CNN or only watching FOX news.;