BIAS OF THE WEEK

Reactance

Two groups were given the choice betwwen owning a mug or receiving money…

  • Participants were given the choice betwwen a mug or cash. They thought the mug was worth: $3.12
  • Participants were given a mug and then allowed to sell it. They thought the mug was worth: $7.12

We value things that we own more highly than things that we don’t

See the full study here :

Weber, E.U. (2010). What shapes perceptions of climate change? Wiley interdisciplanary Reviews : Climate change, 1(3), 332-342, https:doi.org/10.1002/wcc.41

Want to know more about biases?

Hindsight Bias

Decision Fatigue

Groupthink

Dunning-Kruger Effect