I think, as this illustrates, talking about biases usually isn’t that helpful when working out what to do. There are often plausible biases on both sides.
This is a pretty common criticism against behavioral finance, which attempts to use cog biases to better understand financial markets, and was one of the first major attempts at application. Theories based on biases are pretty weak unless backed up with a model or some relevant empirical evidence.
At 80k, we don’t find understanding biases to be that big a part of making good career decisions. The main ways it comes up is that it raises my credence that ppl tend not to consider enough options and that it’s useful to use a checklist when comparing options (i.e. be more systematic).
I think, as this illustrates, talking about biases usually isn’t that helpful when working out what to do. There are often plausible biases on both sides.
This is a pretty common criticism against behavioral finance, which attempts to use cog biases to better understand financial markets, and was one of the first major attempts at application. Theories based on biases are pretty weak unless backed up with a model or some relevant empirical evidence.
At 80k, we don’t find understanding biases to be that big a part of making good career decisions. The main ways it comes up is that it raises my credence that ppl tend not to consider enough options and that it’s useful to use a checklist when comparing options (i.e. be more systematic).