Rational Roundup #7 – … And Now Change!

Now, looking back on many publications this year a question still remains unanswered: How much bias does each of us carry around with himself? Striving to be an as-rational-as-possible-person, we need to confront our own biases at some point. Looking into the mirror, we might discover flaws in our own behavior, decision-making and dissonances between…

Escalating the Commitment

Escalation of commitment is the tendency to invest additional resources in an apparently losing investment, influenced by effort, money and time already invested. If the costs outweigh the benefits, the extra costs incurred are held in a different mental account than the one associated with the first investment. To visualize this fallacy let us use…

Announcement: Neurolaw November

During the last months you embarked on a journey through the depths of psychology influencing the legal sector. You realized the huge influence the anchoring effect has on negotiations. Judges tend to follow inferences drawn from previous cases and for a defendant, the time of the day has greater influence on the judgement he receives…

#30in30 – Manipulated by your own Imagination

(Reading time: 3 min read)

The 30 in 30 Briefing Series focuses on a new cognitive bias, fallacy or heuristic in every single publication. By this Briefing we want to provide you with a rough overview on the cognitive theories most likely to occur in your legal or business profession. Today’s content: The Availability Heuristic.