REPORT ON PSYCH TALK: Why you cannot fully trust your judgement Cognitive Bias and Heuristics

-         AARUSHI JAIN

 

 

During this Psych Talk, Sumati and Shivani are going to share with us a folly we often make as human beings, which is, that our judgement in different matters is quite foolproof. This session was held on 10^th August 2020,Monday at 8:00p.m.

Heuristics aka mental short-cuts can actually get the better of us many a times and they actually do whether we like it or not.

There is effect on decision making within strategic innovation management as well as how to minimize their effects so that team members can contribute optimally to the fuzzy innovation process.

"The intuitive mind is a sacred gift and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift." - Albert Einstein

Society Today Psych Talk- Heuristics

But there is a certain 'cost for making quick judgement along with its potential benefits.

One of the most useful tactic is 'heuristics

Heuristics are simple set of rules for making complex decisions or drawing inferences in a rapid and efficient manner

Limited mental Capacity                                  

At any given time, we are capable of handling a certain amount of information additional method this input beyond INFORMATIONAL OVERLOAD (where demands on our cognitive system are greater than its capacity).

To deal with such situations, we adopt various strategies designed to stretch cognitive resources to let us do more, with less efforts than would otherwise be in the case.

A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world.

Especially under the uncertainty where the Correct answer is difficult to know or would take great deal of effort.

Easier it is to bring info to mind, the greater is its impact on subsequent judgement or decisions.

The fact that we quickly bring it to our mind suggest that it may indeed be frequent or important so it should influence our judgement and decisions.

Judgement can never be trusted as it’s biased from clients and receiver sides. The perspective can be changed even within the time period. We see people isolated. For these we have decentralization and deconditioning as we have negative experiences so we should have an exposure toward the positive side also.

Even at a point of time the media was so critical about the strongly influences which was biased but gradually things have changed according to the time. So if we towards backward only then it is not possible.

So in crux we see why we cannot trust and what are the major changes and how can these be cured with the time. So it is important to know about these two aspects as it have more sub divisions which are very vast. This was the episode no-7 organized by empower people.