Anchoring Effect

In last week I had to read about “the 12 cognitive biases that prevent you from being rational”

This topic is come from this link http://io9.com/5974468/the­most­common­cognitive­biases­that­prevent­you­from- being­rational

We separate the student in to a small group for 4 groups. So, in our group we have to discuss about 3 cognitive biases for “Projection Bias”, “The current moment Bias” and “Anchoring Effect”. These three cognitive are very important to learn about the bias, because it easy to happening in any time in our life.

As a projection bias said “As individuals trapped inside our own mind 24/7. We tend to believe that people not only think like us, but they also agree with us.” For example, the exaggerated confidence one has when predicting the winner of sports match. If we cheer the blue team, we will tend to assume that most people cheer this team like us. Though there may be no justification for it.

For the second topic is “The current moment Bias”. Most people would rather experience pleasure in the current moment, while leaving the pain for lather”. In my opinion, this is very true, many times that I cannot stop eating spicy food when my friend invite me to eat papaya salad. However I really promise with myself that I will not eat spicy food again after I ever meet a problem about my stomach.

The last one is talking about “Anchoring Effect” that mean we tend to fixate on a value or number that in turn gets compared to everything else. For example, you know about i-phone6 quality and you know about the price of it. You also focus on that item. When you hear about any smart phone which it the new one, you will compare with i-phone6 again. This is calling Anchoring Effect.

In summarize, 12 cognitive biases that we learn is very important. If we know we can use it to protect our activity that can be more bias. Every activity cannot go without the bias. However, it cans success with a good bias.