Introduction In the intricate realm of decision-making, our minds are often influenced by a cognitive bias known as the System Justification Theory. This mental model refers to our tendency to rationalize and defend existing social, economic, and political systems, even when they may not be in our best interests. Understanding this concept is vital as […]
Introduction In the realm of decision-making, the Semmelweis Effect stands as a compelling mental model that sheds light on the propensity of individuals and groups to reject new information or ideas that challenge their existing beliefs or practices. Coined after the Hungarian physician Ignaz Semmelweis, this phenomenon captures the tendency to dismiss valuable insights due […]
Introduction The Anchorage mental model highlights the human tendency to heavily rely on the first piece of information encountered when making decisions. It influences our judgment, evaluations, and subsequent decision-making processes. Understanding the concept of Anchorage is crucial as it plays a significant role in shaping our perceptions and can lead to biased and irrational […]
Introduction In the realm of decision-making, our minds are subject to various cognitive biases and fallacies that can often lead us astray. One such powerful mental model is the concept of switching cost. Switching cost refers to the perceived or real expenses, both tangible and intangible, associated with changing from one option to another. These […]
Introduction The Creative Destruction mental model is a fascinating concept that plays a significant role in our decision-making processes. It is deeply rooted in human psychology and is prevalent in our day-to-day lives. This mental model is a tool that helps us understand the cycle of innovation and obsolescence, where new ideas, technologies, and processes […]