Cognitive Biases
This bias leads people to overestimate their own abilities or knowledge.
What is overconfidence?
This financial tool often comes with a spending limit and a monthly bill that shows what you owe.
What is a credit card?
This term describes people who try to make the best choice by exploring every possible option.
What is a maximizer?
This organelle is responsible for cellular respiration. It is also known as the powerhouse of the cell.
What is the mitochondria?
This is the core idea of the book (the ability to think again).
What is rethinking?
This bias leads people to favor information that supports their existing beliefs while ignoring contradictory evidence.
What is confirmation bias?
Putting money into something so it will grow over time with interest (money is working for you).
What is an investment?
This emotion often increases when people compare their choice to the alternatives they didn’t pick.
What is regret OR dissatisfaction?
In Minecraft, these are the hostile green creatures that explode when you get too close.
What is a creeper?
This mindset focuses on testing hypotheses and updating beliefs based on new evidence.
What is the scientist mindset?
This bias causes people to think past events were more predictable than they actually were. "I knew that would happen!"
What is hindsight bias?
Borrowed money that you have to repay with interest (money is working against you).
What is a loan?
This term describes people who choose an option that is "good enough" rather than perfect.
What is a satisficer?
This scientist's observations of finches helped shape his theory of natural selection.
Who is Charles Darwin?
This company failed to rethink, causing its popularity to crash rapidly between 2011 and 2013. Now we use Apple!
What is Blackberry?
This bias happens when people value immediate rewards instead of long-term rewards.
What is present bias?
Interest on interest.
What is compound interest?
One idea that Schwartz suggests to make decision-making easier (multiple answers accepted).
What is limiting choices, satisficing, practicing gratitude, lowering expectations
This Disney Channel show follows twin brothers living in a luxury hotel called the Tipton.
What is the Suite Life of Zack & Cody?
Grant describes this as the joyous feeling you get when you aren't right, because that means you've learned something new. It's another way to say "the joy of being incorrect"
What is the thrill of being wrong?
This bias happens when people continue investing in something because of what they’ve already put into it, even if it’s not worth it.
What is the sunk cost fallacy?
This is money taken out of your paycheck by the government to fund public services.
What are taxes?
This occurs when having too many options makes it difficult for a person to make any choice at all.
What is decision paralysis?
This Eastern European country is home to Transylvania, which is often associated with the Dracula legend.
What is Romania?
This term describes the discomfort people feel when they hold 2 or more contradictory beliefs.
What is cognitive dissonance?