ix) More Thoughts On Our Thinking

- rational conveys an image of greater deliberation, more calculation & less warmth; with a person's beliefs and preferences being reasonable

- yet non-psychologists, especially economists, look at rationality as being internally consistent rather than reasonable

- humans are not irrational but need help to make more accurate judgements and better decisions

- people act in ways that seem odd, ie not in their long-term interest, but they could have a good reason to do so, ie people choosing not to save for old age or exposing themselves to addictive substances

- to be rational requires more effort

. Not understanding the way most people learn. Based on a Chinese proverb, ie

"...Tell me, I'll forget; show me, I'll remember; involve me, I'll understand..."

i) Tell me, I'll forget..... hearing and listening are not one of the stronger senses in brain and nervous systems.

ii) Show me, I'll remember...seeing is one of the strongest senses in the central nervous system. [brain].

iii) Involve me, I'll understand...this would include all of the senses possible....skin, hearing, seeing, feeling, touching, smelling, taste and etc....also involvement means in most cases experiential learning. Which indeed translates to: Involve me, I'll understand.

. Not understanding cognitive bias in decision-making. The entire way the brain processes information is through a series of approximations, ie cognitive biases. Thus it is critical that we understand our biases, ie the way we distort & interpret the signals we receive. We need to focus more on imperfections in judgment (cognitive bias) rather than errors in measurement. We all have cognitive biases such as

- Confirmation bias (focus on evidence that supports our point of view, beliefs, etc)

- Anchoring (too much weight on 1 piece of information)

- Heuristic effect (for a preferred option, we minimise risks while exaggerating its benefits; do opposite for something we dislike; this applies especially when under pressure)

- Motivated errors (involves intentional deception, self-deception, ie decisions are biased in direction of self-interest)

- Salient analogies or survivorship (do not properly assess mistakes & focus on repeating past successes &/or most recent experiences)

- Hindsight or intuition (too much confidence on in past experience; habit; rewriting the past ; routine thinking; gut feeling)

- Halo effect (over-simplify a story plus link results to personalities; sequence matters, ie first impression dominates; good/bad people do good/bad things)

- Stereo-typing (a typical personality description for a group of people, ie classifying them all as the same)

- Automation (too much faith in accuracy of output from machines & computers)

status quo (happy with the way things are now) 

(Fiona Carruthers2011; Gokce Sargut et al, 2011)

. Not taking into account individual's cognitive biases, ie mental filters that are self-serving (Michael Watkins et al, 2003). There is a tendency to see the world as we'd like it to be rather than as it truly is. The human mind is a notoriously imperfect instrument. For example, we ignore or underestimate approaching problems, such as

- harbouring illusions that things are better than they really are. It is assumed that potential problems will not actually occur and/or the consequences will not be severe enough to merit preventive measures, ie we'll get by. A good example is how the attitude to climate change has changed very quickly.

- giving a greater weight to evidence that supports our pre-conceptions and discount evidence that calls those pre-conceptions into question

- paying little heed to what other people are doing. This means overlooking vulnerabilities to predictable surprises resulting from others' decisions and actions

- prefer to be creatures of the present, ie maintain status quo while downplaying the importance of the future. This undermines motivation and courage to act now to prevent some distant disaster, ie avoid a little pain today then incurring a lot of pain tomorrow

- not feeling compelled to prevent a problem that is not personally experienced or is not perceived to be real. In other words, acting only after experience of significant harm to ourselves or those close to us. Furthermore, self-serving bias can be particularly destructive when there are conflicts of interest.

. Managers not being mindful of their unconscious biases (source: Mahzarin Banaji et al, 2003). They need to keep in mind that their intuition is prone to

- implicit prejudice which will strongly favour dominant and well-liked groups

- in-group favoritism which will favour people in their own group

- over-claiming credit (over-rating individual contribution) which will favour your own efforts

- conflict of interest which will favour people whose interests affect your own


Search For Answers

designed by: bluetinweb

We use cookies to provide you with a better service.
By continuing to use our site, you are agreeing to the use of cookies as set in our policy. I understand