Human Nature Vs. Money: Battling Irrationality & Thinking Traps [#2 Cognitive Biases]
![Human Nature Vs. Money: Battling Irrationality & Thinking Traps [#2 Cognitive Biases]](https://getpodpage.com/image_transform_gate_v3/o7xhgJ5PDrBn0mg752GjqYfSLM7kFFgiN2qdZiGSYZM=/?image_url=https%3A%2F%2Fmegaphone.imgix.net%2Fpodcasts%2Fb31b318a-dfc3-11ee-96e2-e307ea398f4c%2Fimage%2F1d8d033a451ed364f6958049c1878af0.png%3Fixlib%3Drails-4.3.1%26max-w%3D3000%26max-h%3D3000%26fit%3Dcrop%26auto%3Dformat%2Ccompress&w=1200&h=630&fill=blur "Human Nature Vs. Money: Battling Irrationality & Thinking Traps [#2 Cognitive Biases]")
Manipulation tactics that work - Irrational behaviours that don't - Prediction Fallacies we fall for
Manipulation tactics that work - Irrational behaviours that don't - Prediction Fallacies we fall for.
In this episode, we dive further into our series on cognitive biases and how they cloud our judgment.
Studying applied psychology we can learn how we get manipulated by companies and start to protect ourselves from our own irrationality.
Take homes:
- How to protect ourselves against pricing tactics
- Reduce irrational decisions
- Build awareness of the truth
- Reduce unpleasant surprises
- Make better investments
Further reading:
- Thinking Fast and Slow - Daniel Kahneman - UK Book - US Book
- Predictably Irrational - Dan Ariely - UK Book - US Book
If you enjoy this episode it's part of a series on cognitive biases worth checking out:
- Ego Blindspots: 9 Cognitive Biases to Avoid - [May 7th]
- [You are here] - Money Traps
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Discussed links
Growth Mindset pod
Sam Webster Harris explores the psychology of happiness, satisfaction, purpose, and growth through the lens of self-improvement.
Success and happiness is a state of mind unique to ourselves and is our responsibility to create.
- Watch the pod - YouTube (Growth Mindset)
- Mail - GrowthMindsetPodcast(at)gmail.com
- Insta - SamJam.zen
Chapters
00:00 SECTION - Framing effects
00:01 #1 Anchoring Bias
02:54 The Opposite Strategy
04:59 #2 Framing Effect
08:06 #3 Decoy Effect
10:45 SECTION - Irrational
10:47 #4 Gambler's Fallacy
16:45 #5 Sunk Cost Fallacy
19:21 SECTION - Bad Prediction Flaws
19:55 #6 Overconfidence Bias
21:30 #7 Information Bias
25:34 Send Off
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