We are all vulnerable to cognitive biases, which cause us to overfocus on some kinds of information while disregarding other kinds. These flaws in our thinking can trick us into making wrong conclusions and decisions. Moreover, cognitive biases are highly implicated in the development of mental disorders. For example, attentional bias—hyperattention to a certain category … Continue reading Can we outsmart our own cognitive biases?
A penny lost is valued more highly than a penny received. Here is why: Research shows that a punisher and a reinforcer do not have equally opposing effects on behaviour. This is known as an asymmetry of reinforcement and punishment or an asymmetry in the law of effect. When people are offered a choice between punishment … Continue reading Did you know that a penny lost is valued more highly than a penny received?