Encyclopedia of Cognitive Biases

Most people pride themselves on being logical, rational individuals, but we all fall prey to cognitive biases — errors in reasoning, perception, memory, and decision-making. Even though we may not know them by name, cognitive biases and other psychological phenomena impact everything from what we buy and how we vote to the ways we prejudge others and resolve conflicts. These mental shortcuts can be beneficial in some situations and harmful in others. These biases can be exploited by businesses and individuals to encourage us to act in particular ways. For example, anchoring is the tendency to rely too heavily on the first piece of information we receive when making a decision. Marketers can use anchoring to their advantage by listing an artificially high price for an item, making a lower sale price seem like a deal that’s too good to ignore. These biases have an enormous impact on our daily lives, from which products we decide to buy to how we interact with others. This book examines 150 of these psychological phenomena, allowing readers to better understand themselves and the people around them. Readers will discover what cognitive biases are, how they arise, and what can be done to lessen their effects. In addition to providing a clear explanation of the psychological principles behind these cognitive biases, the text offers relatable real-world examples that bring the material to life. Entries are organized into thematic sections, but an alphabetical entry list enables readers to quickly find specific material. The book’s introduction creates a useful conceptual framework for readers, while further readings following each section serve as gateways to additional study.