dissonance
Posted in cognitive biases

What happens in Cognitive Dissonance

In 1957, Leon Festinger put forward the cognitive dissonance. What does “dissonance” mean? The word, “dissonance” refers to either a “lack of agreement” or an “inconsistency”. In cognitive dissonance, we are entering into an internal clash among different cognitions – beliefs, thoughts, or attitudes. Let us be clear this concept…

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self serving bias
Posted in cognitive biases

Pluralistic ignorance: What the majority think…

Most of the time we live in an illusion of misjudging others. Why do I say that? Imagine that you are listening to a lecture with your classmates. You want to ask a question from the lecturer to clarify a certain matter. However, you assume your classmates understand the presentation…

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social norms
Posted in cognitive biases

False consensus bias: What the minority think…

In fact, many do not; we overestimate in most instances – sometimes, grossly. We falsely – rather erroneously – believe that many are in consensus with us with our judgments, and those who are not in consensus with us are not only a few in number but “deviant” also; this…

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Posted in cognitive biases

What is the Self-Fulfilling Prophecy?

Think of this scenario: “A depositor empties his bank account because of his wrong belief that the bank is bankrupt. The word spreads like a wildfire; others follow suit. As a result, the bank becomes bankrupt”. This, in fact, occurred in Greece in 2015. This is the “self-fulfilling prophecy”. As…

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