Cognitive Bias
Research on biases we into which we naturally fall.
Folksonomies: cognition bias
Memes
06 JUL 2012
The Curse of Knowledge
Call the random variable being forecasted X. If X is a discrete event,
then it has the value zero or one. Forecasts of X depend on the
information set available to the forecaster. Assume that there are two
information sets Io and II, where Io is a subset of II. A forecaster
with information set I, knows everything that the forecaster with in-
formation set Io knows, and more.3 Denote the optimal forecast of X
given the information set I...
1 
Experts tend to assume others have the same knowledge they do and have difficulty taking the perspective of someone without their expertise. As a result, someone selling a car will sell it for less when they know about defects undetectable by buyers, investors will assume other investors are acting on the same knowledge they privately hold, and teachers will assume more knowledge from students then they actually have.
08 JUN 2012
There is No Scientific Basis for Prejudice
Break the chains of your prejudices and take up the torch of experience, and you will honour nature in the way she deserves, instead of drawing derogatory conclusions from the ignorance in which she has left you. Simply open your eyes and ignore what you cannot understand, and you will see that a labourer whose mind and knowledge extend no further than the edges of his furrow is no different essentially from the greatest genius, as would have been proved by dissecting the brains of Descartes ...Folksonomies: prejudice
Folksonomies: prejudice
The brains of laborers and geniuses are anatomically identical.
18 MAR 2012
Dunning�Kruger effect
People tend to hold overly favorable views of their abilities in many social and intellectual domains. The
authors suggest that this overestimation occurs, in part, because people who are unskilled in these
domains suffer a dual burden: Not only do these people reach erroneous conclusions and make
unfortunate choices, but their incompetence robs them of the metacognitive ability to realize it. Across 4
studies, the authors found that participants scoring in the bottom quartile on tests of hum...
2 People who are unskilled in domains grossly overestimate their abilities compared to those who are skilled.
References
06 JUL 2012
The curse of knowledge in economic settings: An experimen...
Periodicals>Journal Article: Colin, Loewenstein, Mark (1989), The curse of knowledge in economic settings: An experimental analysis, Journal of Political Economy , 97: 1232–1254, Retrieved on 2012-07-06Source Material [faculty.som.yale.edu]
Folksonomies: knowledge
Folksonomies: knowledge
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08 JUN 2012
Machine Man and Other Writings
Books, Brochures, and Chapters>Book: Mettrie , Julien Offray De La and Thomson , Ann (1996-04-18), Machine Man and Other Writings, Cambridge Univ Pr, Retrieved on 2012-06-08Source Material [books.google.com]
Folksonomies: philosophy
Folksonomies: philosophy
2
18 MAR 2012
Unskilled and Unaware of It: How Difficulties in Recogniz...
Periodicals>Journal Article: Kruger, Justin and Dunning, David (1999), Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments, Journal of Personality and Social Psychology , 77 (6): 1121–34. , Retrieved on 2012-03-18Source Material [citeseerx.ist.psu.edu]
Folksonomies: psychology
Folksonomies: psychology
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