Halo effect and other cognitive biases

List of cognitive biases

I was reading about the “halo effect” that the iPod has had over the entire apple portfolio. Hit upon this comprehensive list of common cognitive biases…

Now, that you understand biases – over to fallacies!

https://en.wikipedia.org/wiki/List_of_fallacies

 

A false dilemma, is a logical fallacy which involves presenting two opposing views, options or outcomes in such a way that they seem to be the only possibilities: that is, if one is true, the other must be false, or, more typically, if you do not accept one then the othermust be accepted. The reality in most cases is that there are many in-between or other alternative options, not just two mutually exclusive ones.

Always fascinated by fancy terms… 🙂

Advertisements

One Response

  1. Thanks to Vikram: Found this interesting. Stumbled upon it while reading an article on supply chain metrics and how all companies think they are “pretty good” 🙂

    http://en.wikipedia.org/wiki/Lake_Wobegon#The_Lake_Wobegon_effect
    http://en.wikipedia.org/wiki/Illusory_superiority

    For illusory superiority to be demonstrated by social comparison, two logical hurdles have to be overcome. Some psychological experiments require subjects to compare themselves to an “average” peer. If we interpret the “average” as the mean, then it is logically possible for nearly all of the set to be above average, if the distribution of abilities is highly skewed. Hence experiments usually compare subjects to the median of the peer group, since by definition it is impossible for most of the set to do better than the median.

    A further problem in inferring inconsistency is that subjects might interpret the question in different ways, so it is logically possible that a majority of them are, for example, more generous than the rest of the group each on their own understanding of generosity.[2] This interpretation is confirmed by experiments which varied the amount of interpretive freedom subjects were given. As subjects evaluate themselves on a specific, well-defined attribute, illusory superiority remains.[3]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: