Saturday, March 17, 2018

Somewhat less sure..........................


Black-and-white thinking, uncolored by the reality of uncertainty, is a driver of both motivated reasoning and self-serving bias.   If our only options are being 100% right or 100% wrong, with nothing in between, then information that potentially contradicts a belief requires a total downgrade, from right all the way to wrong.  There is no "somewhat less sure" option in an all-or-nothing world, so we ignore or discredit the information to hold steadfast in our belief.
     Both of these biases cause us to see our outcomes through the equivalent of a funhouse mirror.  The reflection distorts reality, maximizing the appearance of our skill in good outcomes.  For bad outcomes, it makes skill all but disappear, while luck looms large.

-Annie Duke,   Thinking In Bets:  Making Smarter Decisions When You Don't Have All the Facts

No comments:

Post a Comment