Psychology

Useful Concepts/Ideas

1. Accountability: People display a strong need to belong and want to be evaluated positively by others in the group

2. Appeal to novelty: The appeal to novelty is a fallacy in which one prematurely claims that an idea or proposal is correct or superior, exclusively because it is new and modern. In a controversy between status quo and new inventions, an appeal to novelty argument is not in itself a valid argument. New things are not always good.

3. Effort Justification: Effort justification is a person's tendency to attribute the value of an outcome they put effort into achieving as greater than the objective value of the outcome. A phenomenon whereby people come to evaluate a particular task or activity more favorably when it involves something that is difficult or unpleasant. The effect is most likely to occur when there are no obvious reasons for performing the task. Putting greater effort doesn't always come with greater pay off.

4. Escalation of commitment: Escalation of commitment happens when someone continues to dedicate resources, including time and money, to a failing course of action

5. Fundamental attribution error: The fundamental attribution error refers to an individual's tendency to attribute another's actions to their character or personality, while attributing their behavior to external situational factors outside of their control. In other words, you tend to cut yourself a break while holding others 100 percent accountable for their actions

6. Halo effect: Halo effect is the tendency for positive impressions of a person, company, brand or product in one area to positively influence one's opinion or feelings in other areas

7. Illusory superiority: illusory superiority is a condition of cognitive bias wherein a person overestimates their own qualities and abilities, in relation to the same qualities and abilities of other people

8. Kantian Fairness Tendency: Men expect from others a lot of 'fairness'

9. What People Like: physical Attractiveness, similarity, Compliment, Contact and Cooperation, association

10. Over time our choices reinforce themselves and towards the bottom of the pyramid, we find ourselves rolling toward increasingly extreme views

11. Risk Adverse: People tend to overreact to bad news. People tend to underreact to good news

12. Scarcity Principal: Limited time sales, rare card: diminishing personal control, show plenty goods then scarce 

13. Twaddle Tendency: Wise men speak because they have something to say; Fools because they have to say something

14. A man with a hammer: “To a man with a hammer, everything looks like a nail.” ― Mark Twain.

15. Admire -> Love feedback loop 

16. Availability Bias 

17. Base Rate Fallacy

18. Be sympathetic with the other person’s ideas and desires. The child eagerly displays his injury; or even inflicts a cut or bruise in order to reap abundant sympathy. For the same purpose adults 

19. Curiosity Tendency: it can easily be exploited into time wasting 

20. Deprival-Super reaction tendency: tend to greatly overreact to losses or to small deprivations. once his rats and pigeons had conditioned reflexes, caused by food rewards, he found what withdrawal pattern of rewards kept the reflexive behavior 

21. Doubt-Avoidance Tendency with 1) puzzlement and 2) stress lead people to make a wrong decision

22. Excessive Self-Regard Tendency 

23. Generation effect: The generation effect is a phenomenon where information is better remembered if it is generated from one's own mind rather than simply read

24. Human tends to prefer short term rewards though they are harmful most of the time. Focus on long term rewards 

25. Hyperbolic discounting: Given two similar rewards, humans show a preference for one that arrives sooner rather than later. Humans are said to discount the value of the later reward, by a factor that increases with the length of the delay. In the financial world, this process is normally modeled in the form of exponential discounting, a time-consistent model of discounting. Many psychological studies have since demonstrated deviations in instinctive preference from the constant discount rate assumed in exponential discounting. Hyperbolic discounting is an alternative mathematical model that agrees more closely with these findings. We favor the immediate, relatable thing in front of us

26. Ikea effect: People pay more to what they partially build 

27. Influence-from-Mere-Association Tendency: If you see something collected with other things you think of as "good"

28. Let the other person feel that the idea is his or hers 

29. Lollapalooza effect: A confluence of factors acting together that can lead to either large positive or negative results

30. Mental denial: better to face it

31. Mental misjudgment 

32. Operant conditioning: Operant conditioning, sometimes referred to as instrumental conditioning, is a method of learning that uses rewards and punishment to modify behavior

33. Pavlovian conditioning: Classical conditioning is a behavioral procedure in which a biologically potent stimulus is paired with a previously neutral stimulus

34. Ostrich Effect: we tend to avoid negative information 

35. Path theory? Path of thinking something changes our conclusion 

36. People like something familiar: name, face etc 

37. People like to be consistent > foot-in-door technique: have a written statement > becomes a proof of commitment and start believing it's a true intent of the writer, low balling 

38. People like to be praised even praise doesn't have to be accurate as it generates the same effect 

39. People tend to trust authority > avoid working under a person you don't want to be as I'll also be subject to authority 

40. People want to be appreciated Little phrases such as “I’m sorry to trouble you,” “Would you be so kind as to —?” “Won’t you please?” “Would you mind?” “Thank you”: Little courtesies like these oil the cogs of the monotonous grind of everyday life 

41. Price anchoring: make sure to avoid  

42. Reciprocation Tendency: ask a big and appear to offer you a favor in return by cutting back on their initially-asked favor: feeling of guilt: send a letter with "I like you": give a lot of small favor: help in the worst time to gain respect 

43. Social proof: Social proof is a phenomenon where people follow and copy the actions of others in order to display accepted or correct behavior, based on the idea of normative social influence

44. Socratic method, was based upon getting a “Yes” response. He asked questions his opponent has to agree. He kept on asking questions until finally, almost without realizing it, his opponents found themselves embracing a conclusion 

45. Stress-Influence tendency: adding too much stress often forces people into a fight-or-flight response where they make extremely impulsive decisions 

46. Sunk-cost fallacy: the phenomenon whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial.

47. The way to get things done, says Schwab, is to stimulate competition 

48. Dramatization. Merely stating a truth isn’t enough. The truth has to be made vivid, interesting, dramatic. You have to use showmanship. 

49. We assume everything about something is good if we like, physical Attractiveness, similarity, Compliment, Contact and Cooperation, association. On the other hand, we assume everything about something is bad if we don't like.