
Cognitive biases are flaws in how our brain processes information and heuristics are mental shortcuts which are not always true. For example, we’re more likely to buy something that costs $19.99 rather than $20.00 due to our leftmost digit bias. Handedness bias makes right-handed people prefer the item on the right (and left-handed people the item on the left) when two similar items are presented. An example of framing bias is that we prefer something with a 90 percent survival rate over something with a 10 percent death rate, even though these are both the same. We also take bigger risks to avoid negative outcomes than to achieve positive outcomes. Continue reading





