OG NOTES (AUG-2018)
Mental Lapses: Laziness, Shortcuts, Mistakes
The previous findings are a prime example of, ‘the law of least effort’…
Law of Least Effort: the brains choice to use the minimum amount of energy for each task.
Because checking the answer would cause more effort, our mind won’t check with system 2 as it thinks it can get by with just system 1.
By being lazy and ignoring the reflective system 2, our mind is limiting the strength of our intelligence. Just like it did with the bat & ball example
*Next up is, heuristics… Does anyone know what a heuristic is or have heard of the term?
Heuristics: A simple procedure that helps find adequate, though often imperfect, answers to difficult questions.
Simply put, it’s how the mind uses shortcuts to make quick decisions. You’ll become very familiar as the understanding of heuristics is extremely important to understanding the decision-making process.
*Lastly, we have a term that everyone is at least somewhat familiar with… Biases
Cognitive Bias: A cognitive bias is a mistake in reasoning, evaluating, remembering, or other cognitive process, often occurring as a result of holding onto one's preferences and beliefs regardless of contrary information.
Who can give me an example of a cognitive bias?
Bandwagon Effect/Placebo Effect most common/recognized examples
To recap…
Heuristic = shortcut
Bias = mistake
*these produce a…
__ Effect = the behavior as a result of either or both
There are nearly 200 recorded biases & heuristics but I’m going to focus on the ones that I deemed most impactful for decision-making within a business environment.
A lot of these terms will be new and while I give examples, both real world and sales. Aside from my examples and take-aways you should have some lightbulbs of your own go off on how you can use that information for your approach. In my mind, this is where the real fun begins.