Listed Psychological traps in video:1. Ostrich effect: When you ignore negative information just because it makes you nervous or anxious 2. Inability to close doors: Fear of missing out. You continue to do something in spite of discomfort or loss. To overcome, Focus on one thing. 3. Contrast effect: When you value something more because you have seen something worse. Or vise versa. To overcome this, evaluate things independently 4. Chauffeur knowledge: Believing someone who acts smart, but is not wise actually, like a parrot. To overcome, Ask deeper questions 5. IKEA effect: you value something more, just because you did it. To overcome, Get feedback. 6. Curse of specificity: Giving unnecessarily more importance to an irrelevant information . 7. Spotlight effect: Becoming anxious that thers are noticing you. Know that they are not interested in you. 8. Halo effect: When your impression in one area effects your decision in other areas. Separate events. 9. Reciprocity: Acting out of obligation. 10. Self serving bias: You take responsibility of success but not of failure. Practice taking responsility. 11. Diderot effect: One action leads to unnecessary other actions or spending like buying a car - Spiral effect. Be mindful. 12. Anchoring effect: First option becomes very important for future comparison. 13. Negativity bias: When you focus more on negatives. Consciously focus on positives 14. Sunk cost fallacy: Keep doing something just because you invested in it. Focus on future returns instead. 15. Paradox of choices: Inability to Choose because options are too many, like ordering from 50 dishes. Reduce and simplify 16. Framing effect: Presentation influences your decision making. E.g. 90% chance of success vs 10% chance of failure. 17. End of history illusion: Thinking who you (or they) are now is who you (or they) will ever be.. 18. Pygmalion effect: Reduced time improves performance. 19. Consistency effect: Find someone who thinks you are accountable. 20. Planning fallacy: Underestimate some task as easy. Do thorough homework instead. 21. Confirmation bias: Notice things that you already believe. Challenge your own views instead. 22. Bandwagon effect: Following the crowd. Respect your needs more. 23. Dunning Kruger effect: Overestimating your own abilities. Consult experts insead. 24. Loss aversion: Fear of failure overwhelms the chance of success. 25. Decoy effect: Prefer a thing because its better than the worse. Choosing a medium popcorn because it seems cheaper than bigger one. Evaluate things on their own merit instead of comparing them with others. 26. Availability heuristic: judge the likelihood of event based on how easily you remember them. Like news bombardment. 27. Gamblers fallacy: Believe that Past events somehow effect future one. Like if you have lost 10 coin tosses, you are going to win the next one. 28. Hindsight bias: I knew it attitude. 29. Reactance bias: Tendency to do the opposite of what is told. Because obeying looks like a threat to my freedom. 30. Action bias: Inability to wait and act hastily without information or preparation. Be patient instead. 31. Survivorship bias: Only notice success and forget the efforts it takes. Research both sides 32. Unity principle: Trust a person or product more because he is from your group or state or culture etc. 33. Zeigarnik effect: Remember incomplete tasks more than the completed ones. Plan instead. 34. Bystander effect: Not taking action and standing by. Be specific in asking and giving help. 35. Ambiguity effect: Tendency to avoid choices that look unfamiliar. 36. Curse of knowledge: Assuming that others know what you know without validation. Put yourself in their shoes instead. 37. Illusion of averages: Illusion of believing that average numbers reveal truth. Dig deeper. 38. Endowment effect: Valuing something just because you own them. See from an outsider perspective.
What I learned:
What a trap or snare is.
What a fallacy or fake conclusion is.
Accepted vocabulary to describe situations, actions or non actions.
Accepted vocabulary to describe influences, bias and characteristics.
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