Remove cognitive-bias
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Why Customers Make Instant Decisions And How To Effect it

Beyond Philosophy

Human nature often seeks shortcuts for cognitive tasks, leading to heuristic processes. There’s no one-size-fits-all solution for a perfect Customer Experience transformation; it requires a combination of approaches. Heuristics, or mental shortcuts, simplify decision-making.

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Why We Think Things Are Good When They Are Bad

Beyond Philosophy

It’s a psychological phenomenon called Cognitive Dissonance, and it’s why we sometimes think that things are good when they are, in reality, bad. We all create Cognitive Dissonance. The third way people resolve Cognitive Dissonance is to change their perception of the beliefs, which means rationalizing your actions. .

Sports 182
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The Myth of the Silver Bullet: Unraveling Quick Fixes in Business

Beyond Philosophy

Reason #2: Cognitive Ease. Reason #6: Optimism Bias People assume whatever they are implementing will work out better than it typically does. We call this an Optimism Bias. Optimism Bias about the effectiveness of our solution implementation leads to silver-bullet solution thinking.

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Mastering ‘Mental Accounting’: The Key to Persuasive Buying Decisions

Beyond Philosophy

Mental Accounting is a Side Effect of Cognitive Biases Money is fungible, which is a fancy $3 word for something that is infinitely transferable. What makes this interesting is that our Mental Accounts suffer from all the other biases of our cognitive processes. We consider it an opportunity to spend it specially.

Banking 78
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The Hidden Obstacles to Effective Planning. It’s Not What You Think!

Beyond Philosophy

If you have too much to do because you’ve agreed to do too many things, then you could suffer from a cognitive bias identified and explained by Daniel Kahneman and Amos Tversky called the Planning Fallacy. Plus, there’s a Self-Serving Bias where we consider ourselves more competent than we are.

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Thinking Fast and Slow by Daniel Kahneman (a One Win Book Review)

Customers That Stick

The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation?each System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical.

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How will COVID-19 change customer behavior and habits?

Beyond Philosophy

However, following the crowd is another cognitive bias – social proofing. Another cognitive bias in effect during the frantic shopping experience is Loss Aversion. Most behavioral biases arise in the fast-thinking areas of the brain. The same that are responsible for our emotions. The term is coined by Prof.