Like it or not, every day we make decisions that range from what we eat or who we answer the call, to which party we vote in the elections.
And although many times we do not Let us realize, our mind faces a powerful battle: intuition against logic.
Great thinkers such as Daniel Kahneman and Amos Tversky revolutionized our conception of how the mind works when speaking – in the decade of the 70 – of the “cognitive biases” that influence our decisions, referring to deviations in the mental process that lead us to irrational or distorted interpretations.
Kahneman, winner of the Nobel Prize in Economics and author of the best seller “Think fast, think slowly”, argues that we have two systems of thought: a fast one, which is always ready to deliver intuitive and instantaneous responses, and a slower one, which engages rga to make rational decisions.
In this dichotomy, the illogical system usually wins, which dominates much of what we say, do, think and believe.
“We are configured to be able to make decisions very quickly and efficiently with very little data, without having to have all the information or a lot of time and energy to think”, Helena Matute, professor of psychology at the University of Deusto, in Spain, and author of the book “Our Mind Engaña nos.”
Under these conditions, it is not possible for decisions to be logical, she explains, since normally “It is not the priority for our survival” .
Pedro Rey Biel, professor of Behavioral Economics at ESADE Business School in Spain, explains that economists have accepted that human beings function with cognitive biases, something that has a broad impact on predictive models and on society as a whole.
“We make more mistakes when the consequences of our decisions are uncertain”, he explains in dialogue with BBC Mundo.
“Human beings are not prepared to evaluate probabilities, we are very bad interpreting. And emotions often cloud us ”.
It is difficult, explain, that we are clear about our objectives each time we make a decision and what is the best way to achieve them.
In addition, our decisions are made in a “strategic environment “, That is, they are determined by what others do. Everything influences our making illogical decisions, he points out.
Dozens of cognitive biases have been identified that intervene in our decisions, many of which are contradictory to each other.
Although some are not more important than others, these are six ways of making illogical decisions that are among the most frequent according to psychologists, neuroscientists and economists.
1. Confirmation bias
The confirmation bias causes us to incline to listen, read, search or remember information that confirms our beliefs.
With the massive use of social networks, This bias has become even more common as we tend to communicate with others who have similar ideas and who constantly reaffirm our world view.
It is evident on issues that divide opinions in a radical way. For example, in debates such as abortion, the performance of a government or a football team, the diversity of gender, races or religions.
Instead of listening to the arguments of the opposite side and evaluating the facts in a rational way, we tend to pay attention to those indicators that help us to show that we are correct.
- The (very widespread ) cognitive bias that was behind some great catastrophes in history
When we operate with the confirmation bias, we only hear what we want to hear.
2. Anchoring bias
It is also quite common that the first information we receive influences our opinions more strongly. It is a phenomenon defined as the anchor bias.
For example, the first number that appears on the table in a negotiation , generally becomes an anchor point, around which the rest of the arguments rotate.
The same can happen when a The doctor elaborates the diagnosis of a patient and tends to stay with his first evaluation, instead of leaving the door open for new diagnoses that may contradict the first impression.
When we do not have all the data or we We are pressured to make quick decisions, we often rely on “anchors”, that is, a piece of information that helps us to adjust the rest of our ideas around it.
Even worse, sometimes It is the only data we have and we use it with a anchor to build a whole theoretical foundation without having the necessary tests that allow us to defend our position in a solid way. In that case, we give excessive weight to the first information received, even if it is incomplete.
This bias also makes us anchor the first piece of information that a politician tells us and assume it as true, without leaving space to later verify with other reliable sources if that information is really true.
- What is the “anchor effect” and how does it make us feel good about paying a high price for something that is worth less
And in the field of marketing and sales it also works quite successfully . For example, we go to a store, we see a television for US $ 1. 000, and it seems to us that this model is too expensive.
But when we discovered that there is a discount and now only worth $ 867 dollars, it seems to us that it is a great deal, even though it is still expensive.
Or when a menu puts excessively high prices on certain products, it gives the impression that the most cheap are more convenient, even if they are still expensive.
3. Availability bias
It is about seeing things in a different way when they touch you as a close experience .
For example, if we have two or three family members who suffered a car accident recently, it is not surprising that we think that accidents are increasing in our society.
However, it is possible that reality shows the exact opposite, that is , a decrease in accidents. But as we have experienced close cases, it is difficult to pay attention to the statistical data.
Something similar happens with a smoker who has not seen anyone close to die from this cause and, therefore, thinks that the threat is less, even if scientists say otherwise.
Or when the car is stolen from several people in your neighborhood. It is likely that we think that this type of crime is much more common than the statistics indicate .
This bias makes us estimate that the probability of something happening, based on the availability of examples that come to mind.
4. Present bias
The present bias makes us pay attention to what is happening now, without worrying about the future.
A typical example is people who prefer to spend money right now instead of saving. Several experiments have been done where a person is offered, for example, $ 100 dollars today or $ 200 in one more year.
Most prefer money today, even if you receive a smaller amount.
Waiting too long generates uncertainty and the immediate gratification tends to prevail over the rest of the arguments.
This bias leads us to overeat, send text messages and drive or have unprotected sex, for example.
5. Egocentric bias
When people tend to take credit for successes, but blame failures on other people or external causes, we are facing the egocentric bias (known in English as self-serving bias ).
If a project is doing well, we probably assume it is because we work hard. And then we deserve success.
But when things go wrong, we are more likely to seek responsibility, or even think it was bad luck.
This Bias plays an important role, in that it helps protect our self-esteem . However, it can often lead us to project our own shortcomings onto others.
This bias leads us to favor our own interests over those of others.
6. Lure effect
If you are going to buy a coffee, you have probably seen that three sizes are offered: small, medium and large.
The medium one usually costs almost the same as the large one. But given the little difference in prices, has it ever happened to you that you have ended up buying the largest and the most expensive?
If so, have you been the victim of a cognitive bias called “the effect decoy ”.
This is that when you are deliberately presented with a third, less attractive option (in this case medium size), that makes you pay more than you would have rationally paid.
“If you present alternatives in a certain way, you can push people to consume the more expensive products “, Linda Chang, a psychologist at Harvard University, explains to the BBC.
Recent studies reveal that it is not an exclusive marketing strategy, but It can also be present in the hiring of personnel and even in the political to.
- The simple trick that companies use to make you buy the most expensive product
Namika Sagara, co-founder of the consulting firm Syntoniq, dedicated to financial advice through technological applications based on the principles of behavioral economics, argues that less logical decisions meet an important function.
“They help us navigate an overwhelming world “, he tells BBC Mundo.
And how can we avoid being dominated by illogical decisions? “A key step is to be aware of your own biases,” says Sagara.
“You have to learn what the different prejudices are and identify how they may be affecting our behavior.”
Not an easy task, but at least it can be a starting point on a long journey of exploration.
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