Prejudices get in easily, but it is doubtful if they ever get out.

Overreliance on the first piece of information encountered, even if it's irrelevant or unreliable, to make subsequent judgments or decisions, leading to suboptimal choices.

Trap -1: Anchoring Bias

Fear of losses outweighing the pleasure of gains, leading to risk aversion and poor decision-making, as people tend to prefer avoiding losses over acquiring equivalent gains.

Trap -5:Loss Aversion

Continuing to invest time, money, or effort into something because of the resources already committed, even if it no longer makes sense to do so.

Trap -6: Sunk Cost Fallacy

We are what we repeatedly do. Excellence then, is not an act, but a habit.

Believing, after an event has occurred, that it was predictable and that one would have predicted it, even if there was no way to know at the time.

Trap -4: Hindsight Bias

If you like my work, pls also subscribe my substack .(Paid Or Free --> Chs is yours)Link : <a href="https://baruauttapal007.substack.com/">My Substack</a>

Subscribe 👍🏾👍🏻👍🏽

Focusing on the successes and ignoring the failures, leading to an overly optimistic view of the chances of success and a failure to learn from mistakes.

Trap -7: Survivorship Bias

Judging the likelihood of an event based on how easily examples come to mind, rather than on the actual probability, leading to overestimation or underestimation of risks.

Trap -2: Availability Heuristic

Tendency to seek and give more weight to information that confirms pre-existing beliefs, while ignoring or downplaying contradictory evidence, leading to poor decision-making.

Trap -2: Availability Heuristic

Similar ideas to Trap -2: Availability Heuristic

The Availability Heuristic

Availability Bias

The availability heuristic