Charlie Munger 25 Cognitive BiasesStudy online at 1. Authority- Following orders just because someone. Charlie Munger's speech titled The Psychology of Human Misjudgment will equip you with the knowledge of the 25 cognitive biases that are. The video above shows Charlie Munger, Warren Buffet's business partner, breaking down what we now call the 25 cognitive biases. If you want.
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25 Cognitive Biases that Ruin Your Life, Explained | Allen Cheng
Members generally may seem to be good people Reciprocation: During cult membership, the Reward superresponse: There are 25 cognitive biases munger continuous benefits to being a cult member that kep driving the dopamine circuits Denial: It is hard to accept that one has made such a terrible decision to give up their former life and join the cult.
Scientology has many levels of ascension. This spurs further action to rise to that level Availability misweighing: The success Munger has obtained and the decades upon decades of experience Charlie Munger has is more than enough of a reason as to 25 cognitive biases munger anyone and everyone should take advice from this man.
Munger avoids the limelight more-so than his business partner, Warren Buffet but it goes without saying when he speaks publicly we should listen… The rest of the time he allows the results he amasses to do the talking.
The Federal Express shifted from an hourly rate to a shift based rate 25 cognitive biases munger their job was time sensitive.
You could not disagree that this system works, look at the relentless pressure car salesmen and real estate agents use to try and seal deals that will benefit them.
Simple, Pain-Avoiding Psychological Denial The pain of admitting and accepting certain truths like the death of a loved one or 25 cognitive biases munger criminal activity of someone you know is too much to handle so we continue to deny it and deny it. We know well and good that a human can only survive X amount of time without 25 cognitive biases munger and water, let alone if left in the ocean or other unfavourable terrain.
World's #1 Life And Business Strategist | Bryant Chambers
The example Charlie Munger offers here is a 25 cognitive biases munger that went out of his way to tell his clients that their gall bladder was the cause of all of their issues and promptly exercised his talents to remove it when in cases it was 25 cognitive biases munger not necessary.
The surgeon remained employed, got to use his skills and earned big money doing so which was his justification until he was removed from his position. Somehow incentive-caused bias has escaped the standard survey course in psychology.
Munger uses a specific example from a Dean of Physics in his speech: Big brands understand the association or pavlovian bias and use this to their advantage ALL of the time.
For example, Coca Cola sponsors athletes, celebrities and likes to get 25 cognitive biases munger name out at any major event they can. So your brain subconsciously associates the Coca Cola brand with these great people and fun times. Reciprocation 25 cognitive biases munger Being a compliance practitioner.
When requesting something of someone the success rate is easily increased by asking for more first then backing off and asking for what you truly want.
Charlie Munger's 25 Cognitive Biases Speech Summary - Ignore Limits
What you think may change what you do, but what is more important is that what you do will change what you think. I used the shooter example as Charlie Munger states that this is over-influence from social proof is at its strongest under conditions of stress.
- Charlie Munger’s 25 Cognitive Biases Speech Summary
- Reward and Punishment Superresponse Tendency
Inconsistency Avoidance Tendency To the man 25 cognitive biases munger a hammer, every problem looks like a nail.
One interesting place I see this play out is in sports fandom. My brother is a Philadelphia Eagles fan simply because of a bathrobe our mother bought him when we were kids.
He's never deviated from that fandom despite the team's inability to win the big game. Charlie Munger puts it this way: We see this in all human habits, constructive and destructive.