Cognitive Biases – A Visual Study Guide by the Royal Society of Account Planning
Category: Digital Media, Psychology, Think Tank
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
This is some good stuff BR – Critical Thinking 101, but I can see how much of this would be applicable to trading.
pop psych 201 revisited
prefer Dylan Hwy 61 revisited
Last Illusion ……
I may be suffering from perception bias or cognitive bias, but I believe the “Disposition Effect” is repeated — golden pig on page 20 and diamond ring on page 22 — thus rendering the count of 36 probability/belief biases as inaccurate, assuming there is a bias toward uniqueness.
great post Barry. CB’s should be required courses at the high school and college levels. it applies to every field imaginable.
been there… done that…
bias ennuicity:
The inability to feel much of anything in the way of bias after being exposed to a series of complex, questionably valid — but occasionally spot-on — psychobabble blurbs accompanied by tortured, half-baked symbolism.
Letter to the editor of “A Visual Study Guide to Cognitive Biases”
After replacing the golden pig with the diamond ring on page 20 and removing the redundant “Disposition Effect” bias, you forgot to change the number of probability / belief biases on page 8 from36 to 35 to be consistent with page 17.
This real-time editing of electronic content high-lights the danger of intended and unintended manipulation of information presented for public consumption. I would suggest the proponents of information systems development and management read “An Information Systems Manifesto” by James Martin, published in 1984.
http://www.amazon.com/Information-Systems-Manifesto-James-Martin/dp/0134647696
I’m sure it’s very good information. But — no offense — I detest scribd (like Flash). There is already a well-worn path to sharing information on the internet, with HTML. Embedding text in another format is “reinventing the wheel”. It creates needless complexity.
I never read scribd-embedded content.
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BR: Use the download link to get the PDF.
Good Stuff Barry.
Seriously nice stuff. I need more like this . Thanks for posting.
Lessee…19 social biases, 8 memory biases, 42 decision-making biases, and 36 probability/belief biases.
I find myself recalling Mickey Rourke’s character in “Body Heat,” an arsonist who delivers the following bit of wisdom:
“There’s 50 ways to f**k up a job; if you can think of 25 of ‘em, you’re a genius. And you ain’t no genius.”
With 105 ways to go wrong, I’m surprised anybody ever gets anything right.
I’m having a nervous breakdown….. HELP…!
Ciao,Econolicious
[...] humans come to incorrect conclusions. You think you’re right, but you actually have no idea. Barry Ritholtz recently published a presentation, released by the Royal Society of Account Planning, states the [...]