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A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world. Thus, cognitive biases may sometimes lead to perceptual distortion, inaccurate judgment, illogical interpretation, and irrationality.
Daniel Kahneman was an Israeli-American psychologist best known for his work on the psychology of judgment and decision-making as well as behavioral economics, for which he was awarded the 2002 Nobel Memorial Prize in Economic Sciences together with Vernon L. Smith. Kahneman's published empirical findings challenge the assumption of human rationality prevailing in modern economic theory. Kahneman became known as the "grandfather of behavioral economics."
The peak–end rule is a psychological heuristic in which people judge an experience largely based on how they felt at its peak and at its end, rather than based on the total sum or average of every moment of the experience. The effect occurs regardless of whether the experience is pleasant or unpleasant. To the heuristic, other information aside from that of the peak and end of the experience is not lost, but it is not used. This includes net pleasantness or unpleasantness and how long the experience lasted. The peak–end rule is thereby a specific form of the more general extension neglect and duration neglect.
Thomas Dashiff Gilovich is an American psychologist who is the Irene Blecker Rosenfeld Professor of Psychology at Cornell University. He has conducted research in social psychology, decision making, and behavioral economics, and has written popular books on these subjects. Gilovich has collaborated with Daniel Kahneman, Richard Nisbett, Lee Ross and Amos Tversky. His articles in peer-reviewed journals on subjects such as cognitive biases have been widely cited. In addition, Gilovich has been quoted in the media on subjects ranging from the effect of purchases on happiness to people's most common regrets, to perceptions of people and social groups. Gilovich is a fellow of the Committee for Skeptical Inquiry.
In the psychology of affective forecasting, the impact bias, a form of which is the durability bias, is the tendency for people to overestimate the length or the intensity of future emotional states.
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Thinking, Fast and Slow is a 2011 popular science book by psychologist Daniel Kahneman. The book's main thesis is a differentiation between two modes of thought: "System 1" is fast, instinctive and emotional; "System 2" is slower, more deliberative, and more logical.
Illusion of validity is a cognitive bias in which a person overestimates their ability to interpret and predict accurately the outcome when analyzing a set of data, in particular when the data analyzed show a very consistent pattern—that is, when the data "tell" a coherent story.
Well-being is a multifaceted topic studied in psychology, especially positive psychology. Biologically, well-being is highly influenced by endogenous molecules that impact happiness and euphoria in organisms, often referred to as "well-being related markers". Related concepts are eudaimonia, happiness, flourishing, quality of life, contentment, and meaningful life.
References
- ↑ Schkade DA, Kahneman D (1998). "Does living in California make people happy? A focusing illusion in judgments of life satisfaction". Psychological Science. 9 (5): 340–346. doi:10.1111/1467-9280.00066.
- ↑ Wilson TD, Gilbert DT (2003). "Affective forecasting". Advances in Experimental Social Psychology. 35: 345–411.
- ↑ Kahneman D, Krueger AB, Schkade D, Schwarz N, Stone AA (2006). "Would you be happier if you were richer? A focusing illusion". Science. 312 (5782): 1908–1910. doi:10.1126/science.1129688.
- ↑ Gilbert DT, Pinel EC, Wilson TD, Blumberg SJ, Wheatley TP (1998). "Durability bias in affective forecasting". Journal of Personality and Social Psychology. 75 (3): 617–638. doi:10.1037/0022-3514.75.3.617.
- ↑ Wilson TD, Gilbert DT (2002). "Affective forecasting". In Gilovich T, Griffin D, Kahneman D (eds.). Heuristics and Biases: The Psychology of Intuitive Judgment. Cambridge: Cambridge University Press. pp. 345–370. ISBN 978-0-521-79679-8.
- ↑ Robson A, Samuelson L (2011). "The evolution of decision and experienced utilities". Theoretical Economics. 6 (3): 311–339.
- ↑ Page L (2024-08-28). "The focusing illusion: Why we overestimate the importance of our next success for our happiness". Optimally Irrational.