WorksheetsCognitive Bias and Social Influence
Total questions: 10
Worksheet time: 8mins
What is a Cognitive Bias?
the tendency to actively seek out and interpret information that supports one's existing beliefs, while ignoring or discounting information that contradicts them
systematic thinking errors that unconsciously influence our judgment
when a sample does not accurately represent the population being studied
You can overcome a Cognitive Bias.
What is the Bandwagon effect?
A phenomenon in which people do something just because other people are doing it.
how we explain our behavior depending on whether the outcome of our behavior is positive or negative
a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain
A principle that our choices are influenced by the way they are framed
What does FOMO stand for?
Financial Obligation and Money Options
Fear of Missing Out
Financial Operations Management
Focusing on Money Objectives
You can overcome the Bandwagon effect
Which cognitive bias is present when someone follows others’ actions without thinking?
Herd Mentality
Loss Aversion
Overconfidence
Sunk Cost Fallacy
What category does this quote below belong in:
"I'm gonna get an iPhone because everybody else has an iPhone and they're cool."
Bandwagon
Circular Reasoning
Verizon advertising the newest Samsung Galaxy phone that they claim everyone else who has bought it loves the new product.
Circular Reasoning
Bandwagon
What does it mean to Bandwagon?
Believe what other people say
People that often do things just because other people do them.
A common behavior that nevertheless drives people crazy
To decieve someone
People are usually aware of their cognitive bias
