Self-serving bias is the tendency for people to attribute their successes to their own abilities and efforts, while attributing their failures to external factors. This bias can lead people to overestimate their abilities and underestimate the role of chance in their successes. It can also lead to overconfidence and poor decision-making. Most of us have… Continue reading Why is Self-Serving Bias Good?
Author: MMP
Status Quo Bias | All you need to consider
The status quo bias is a cognitive bias that refers to our tendency to stick with the current situation or status quo. This can be due to a variety of factors, such as loss aversion (where we prefer avoiding losses over acquiring gains) or simply because it’s comfortable and easy to stay with what we… Continue reading Status Quo Bias | All you need to consider
Sunk Cost Fallacy | All you need to know
Sunk cost fallacy is a cognitive bias that dictates our decision-making. It tells us that we are more likely to continue investing in something as long as we have invested so much in the past, regardless of whether or not it is rational to do so. The sunk cost fallacy can lead us to make… Continue reading Sunk Cost Fallacy | All you need to know
Behavioral Economics | The new Economics
Behavioral economics is the study of economic decisions and behavior. It incorporates insights from psychology, sociology, and other disciplines to explain why people make choices that are not always in their best interests. Behavioral economists also study how market institutions can influence people’s choices, and how government policies can affect economic outcomes. Behavioral economics is… Continue reading Behavioral Economics | The new Economics
Pros and Cons of Wave Energy
Wave energy is a renewable source of energy that can be harnessed from the ocean. The main advantage of wave energy is that it is a clean and renewable source of power that does not produce greenhouse gases or other pollutants. Wave energy is also a very predictable source of power, as the tides are… Continue reading Pros and Cons of Wave Energy
Why Do Startups Fail? Know to Grow
There are many reasons why startups fail, but some of the most common include not having a marketable product, running out of cash, and not being able to scale. A startup may also fail if the founders are not able to work well together or if they do not have the right team in place.… Continue reading Why Do Startups Fail? Know to Grow