48 Identifying Cognitive Biases
Cognitive Psychology
Critical Thinking
Decision Making
Behavioral Economics
Psychological Biases
Synthetic
48.1 Description:
This task involves recognizing and explaining various cognitive biases in given scenarios or decision-making processes. It evaluates the model’s ability to understand how these biases can influence human thinking and behavior.
48.2 Modality:
Text only
48.3 Examples:
48.3.1 Example 1:
Input:
A company continues to invest money in a failing project because they've already spent so much on it. What cognitive bias is this an example of?Output:
This is an example of the Sunk Cost Fallacy.
Explanation: The Sunk Cost Fallacy occurs when people continue a behavior or endeavor as a result of previously invested resources (time, money, effort). In this case, the company is making the irrational decision to continue investing in a failing project simply because they've already spent a lot on it, rather than cutting their losses and moving on to more promising ventures.48.3.2 Example 2:
Input:
After learning about a rare disease, a person starts noticing symptoms of it everywhere. What cognitive bias might this represent?Output:
This is likely an example of the Baader-Meinhof Phenomenon, also known as Frequency Illusion.
Explanation: The Baader-Meinhof Phenomenon occurs when something you've just learned about suddenly seems to appear everywhere. It's a combination of two processes: selective attention (paying more attention to something after becoming aware of it) and confirmation bias (looking for things that support your recent awareness). In this case, after learning about the rare disease, the person is more likely to notice and remember things that seem related to it, creating an illusion that it's suddenly more common.