Sentences with phrase «own confirmation biases»

You'd recognize their confirmation bias in action.

Most relevant here is that the cognitive bias known as confirmation bias will lead you to accept information supporting your belief and reject information that contradicts your belief.

Confirmation bias: When you only see the information that confirms your worldview, and you ignore or block out any other information.

People who resist them will compile and present evidence proving their Or model correct and the And model wrong, which those of us who see opportunity to grow, learn, and improve our lives will see as showing their confirmation bias.

And that can lead to confirmation bias and bad policy.»

In other words, confirmation bias can lead to the same information reinforcing contradictory beliefs.

People who lack EQ form an opinion quickly and then succumb to confirmation bias, meaning they gather evidence that supports their opinion and ignore any evidence to the contrary.

A wave of confirmation bias, combined with an inattention to evidence of weakness in Clinton's support, mixed in with too much coverage of irrelevant sideshows like the Clinton email «scandal.»

The election was a perfect storm of misinterpretations, confirmation bias, and false equivalence.

In a sense, what Silver is pointing out is similar to what we see in the rise of so - called «fake news» that circulates through Facebook and other social platforms — namely, a massive case of confirmation bias.

This is especially harmful because of confirmation bias, which makes us unfairly value information that seems to prove concepts we already believe.

The problem of confirmation bias — a tendency to place weight on data that back up our beliefs, which can prevent us from exploring alternatives — has recently been explored in a number of pop psychology books.

Confirmation bias is the science behind it, and the implications on job and career success are significant.

In practical business terms, if I quickly establish myself as credible through just a few good decisions in a row, a few good first impressions, or any other set of positive interactions, I am establishing positive confirmation bias.

Confirmation bias occurs from the direct influence of desire on beliefs.

The negative confirmation bias was that strong.

Karsan suspects that Research In Motion has been a victim of a phenomenon he sees often as a value investor: confirmation bias, the tendency to selectively place undue importance on items that confirm one's original opinion.

Some of the smartest people in the world suffer from a mean case of confirmation bias.

Confirmation bias is the primary reason why otherwise intelligent people get caught up in asset bubbles that are obvious in the unforgiving light that comes the morning after.

A more profound example of confirmation bias, which has life - and - death implications, can be found in the world of medical diagnosis.

In all of the above cases the entrepreneur who is susceptible to the confirmation bias will look for information and analyze it in a way that will yield: 1) fewer competitors rather than more, because it increases the viability of the start - up, 2) underestimation of the capabilities of the competition because stronger competitors will make life harder for the entrepreneur, 3) view of the company's product as fully addressing the needs of the customer because otherwise the start - up is at a weaker position in the marketplace, and 4) need for less resources rather than more because it generally makes raising the money easier.

We are programmed to reduce, or if possible, eliminate this mental discomfort, which is where the confirmation bias comes in.

The various areas in which entrepreneurs are susceptible to the confirmation bias include: 1) identifying who the real competitors of the start - up are, 2) methodically and rigorously analyzing what the competition is doing and how it may affect the start - up, 3) understanding what the company's current and prospective customers need and want (it is usually not what one originally thinks), and 4) estimating the resources needed by the company to achieve its stated goals.

Confirmation bias is defined as the tendency to search for and interpret information in a way that confirms one's own existing preconceptions, beliefs and opinions.

A very basic example of confirmation bias in daily life, in which people look for information that supports their existing notions and views, is the preference of conservatives to watch Fox News and of liberals to watch MSNBC.

The first step in fighting confirmation bias is for the entrepreneur to constantly remind herself of the existence of the bias whenever information is collected, evaluated and interpreted.

Entrepreneurs, generally known to be highly driven people, are intensely focused on their goal and therefore may be extra vulnerable to the destructive effect of confirmation bias

Another way to circumvent confirmation bias is to engage an advisor or mentor to be a no - man (the antidote to a yes - man) whose role is to argue the opposite of what the entrepreneur thinks or believes and to actively look for, and expose, the downside of everything the entrepreneur wishes to do.

The entrepreneur needs to be aware of the danger of operating under the influence of confirmation bias and devise ways to mitigate the negative effects of that bias.

Psychologists call this the confirmation bias.

Confirmation bias occurs when you're faced with something that you don't want to be true, so part of your brain actually shuts down and comes up with all of the reasons this can't be true.

Most of us have heard the term, and most smart businesses have added checks and balances to their processes to try to overcome confirmation bias — for example, by making sure that their business is structured to allow the open flow of information between executives and those close to whatever problem is being addressed, or by including designated naysayers in the conversation around a decision.

Foremost among them is confirmation bias, our tendency to ignore data that doesn't support our assumptions or whatever point we're trying to make.

Critics say people are shaped by what they read (psychologists calls this confirmation bias).

«Cognitive dissonance» and «confirmation bias» often pair with hot - hand fallacy, and can cause investors to ignore information that might refute their desire to maintain a previously successful strategy and cause them to instead selectively focus on incoming data that seems to support the status quo.

Ensuring that hot - hand fallacy, cognitive dissonance, and confirmation bias are not disproportionately leading a portfolio's overall allocations astray may become increasingly important as the current environment evolves.

I discuss the effects of hot - hand fallacy, cognitive dissonance, and confirmation bias in this issue of my quarterly investment insights.

We believe that it is important to be wary of the effects of the hot - hand fallacy, cognitive dissonance, and confirmation bias, particularly in the current environment.

Hot - hand fallacy, cognitive dissonance, and confirmation bias can create a desire to maintain a previously successful strategy well beyond when fundamental valuations might otherwise suggest.

Power not only can change how your brain works, you're also susceptible to the same irrational cognitive biases, such as confirmation bias, as everyone else.

A useful mindset to help overcome confirmation bias.

As I like to say, confirmation bias at its best.

The common culprits in all this are two quirks of the human mind that psychologists call confirmation bias and hindsight bias.

Confirmation bias contaminates the thinking of professional investors, too.

Definitions of CONFIRMATION BIAS, DISPOSITION EFFECT and EXPECTED RETURN in The Devil's Financial Dictionary

Also, there is a neat little thing that behavioral finance calls confirmation bias.

When you've got this mandate in your head that you're going to start writing checks, there's a predisposition to confirmation bias.

-- Still, same story persists about earnings growth and economic backdrop (problem is that no one knows how to model in impact of tariffs)- many are still afflicted with confirmation bias and narrow vision

Just some more of the usual confirmation bias I like to wallow in.

Thus, if we can eliminate confirmation bias we will have a higher probability of making the best investment decision for our intended objectives.