There are more than 30 different types of psychological biases that condition the behavior and decisions of the human being. This is a clear data from the recent health care innovations. Check out what’s inside.
1. Confirmation Bias
We always look for information external to us that validates what we already think. Therefore, we interpret more positively those facts that support our opinions. For example, if we believe that orange juice makes children who drink it higher during childhood, we will look for that pattern anywhere. If some adult is tall and has taken orange juice as a child, it can help us to strengthen that belief in an almost empirical way, for which we fall into this type of bias, it makes it easy.
2. Hyperbolic Discount Bias
The tendency to want immediate payments to future major payments. This is a very common bias among the current young population or also called millennials, where immediacy is a highly valued asset among them.
Many of the people who suffer from obesity often fall into this bias because of the immediacy of enjoying that food, perhaps not so healthy and tasty, for another that requires more preparation and even greater price. On the other hand, this must be combined with recurrent exercise to stay healthy and fit. In the long term, the best investment is to be healthy, but when we fall into that bias, we prefer to enjoy the moment and try to compensate later.
3. Endogrupal Bias
This is the best known of all. It supposes that if the others do it also to fit in social field. If today it is well seen to play video games in your group of friends, the natural tendency of others is to follow the steps of the majority. For fear of feeling excluded from the social group, humans tend to do what others do and thus feel more integrated and reduce the fear of hypothetical loneliness. Hence, there are current fashions like eSports and watch more and more series online on platforms like Netflix. In this way, we continue in this social dynamic and we can “fit” better on a social level with the other people around us.
4. Anchor Bias
An anchor is, in essence, a starting point from which all other decisions will be affected. Prices are a very clear example. If, for example, we are going to buy a coffee maker in a large area but we don’t know what its average price is, what we do as a general rule is we compare it with the price of the other coffee makers. If we see that one costs 200 $ and the next one costs 60 $, we have to think that it has a good price. Our brain works relatively, not absolute.