- Logical Fallacies vs Cognitive Biases
- Faults of logic arise from the way we think, and therefore changing our thinking can help us to become more logical, whilst biases come from “cognitive machinery” which enable us to think a certain way, and allow us to process information.
- Biases can become a sort of prejudice, but are referred to as a habit in our thinking. They lead us towards a certain perspective which help us to make useful conclusions. It is a product of mental processes which allow us to make sense of new information.
- Dan Gilbert Ted Talk
- Looking at the past as a way of reasoning our future decisions can impact us negatively. (Memory)
- For example, a previous deal that was great can make a present good deal appear awful and therefore we miss out on good deals because we refuse to settle for anything less that the original deal that was in the past.
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