Duration: 3 hours
We, humans, have systematic behavioral biases that are written in our operating system without us being aware. People enter a special state of mind when facing the price “zero”, people want more of the things that are scarce, people are more affected by a loss than by an identical gain, people continue bad projects only because they have invested a lot already, people don’t like change and prefer the status quo, people do not think prices in absolute value, but as compared to something else, and so on. In this module we will discuss the most common cognitive biases, will discuss examples, and will learn practical ways to trick ourselves into avoiding the traps.
Methods. Practical examples, discussions on participants’ experience, working on a case study.
Outcome. Participants who learn that these irrational mechanisms have a certain (clever) name, understand how they work, and get familiarized with counter measures will be less likely to fall into such traps in their business or private lives.