An Important question to ask ourselves.

Few weeks back, One of my friend asked me, “What is the most important asset you have in your life”? “Calm Mind” I replied. Because i am very clear about my life and what is most important to me. On an individual level there is four pillar of requirement i have for myself. 1. Happiness…

Sunk Cost Fallacy

When I finished my computer science engineering, the conventional track for me was to go for masters in that field or settled into suitable job. But suddenly I changed my mind and decided to shift entire stream of career because of only one reason, “I was not into it wholeheartedly”. I don’t have any reason…

Availability Bias

It was confusing for me to choose any one definition over other two, so I am putting all three here. We are prone to make judgement based on what is easily available to our memory. We make theories and assumptions based on what comes easily in our mind. If something comes in our mind frequently,…

Liking Bias

The deepest principle in human nature is the craving to be appreciated. –William James According to research, we see people as pleasant if, A. They are outwardly attractive.B. They are similar to us in terms of origin, personality or interests.C. They like us. Let’s try to understand each in simplest manner with examples. A. Wherever we go…

Contrast Bias

Imagine this Scenario, There is three bucket in front of you. First one contains hot water, second one contains cold water and last one contains water having room temperature. You have to dip your right hand into hot water and left hand in cold water for one minute. Then put both water into third bucket…