BIAS OF THE WEEK

Cooling Off Period

In South Korea, a 3-week waiting period was introduced between divorce filing and complete change in status. 

Thanks to this cooling off period, the divorce rate has been reduced by 10%. 

Our decisions are often influenced by the heat of the moment.

See the full study here :

Lee, J. (2012). The impact of a mandatory cooling-off period on divorce. The Journal of Law and Economics56(1), 227-243.

Want to know more about biases?

Dunning-Kruger Effect

Choice Overload

Blind Spot Bias