Monday, April 25, 2011

Type of Bias to keep in mind when discussing data

In all the conference rooms at NASA Marshall Space Flight Center (MSFC) they have a poster listing common types of Bias:

Wishful thinking

- “hope is not a management tool”

Group think
- “I hate conflict”

Status Quo Bias
- Ever heard “we’ve not had a problem before”

Overconfidence Bias
- “We’ve always been successful in the past”

Currency Bias
- “We remember recent events and forget history”

Confirming Evidence Bias
- “I’ve read smoking doesn’t cause cancer”

Anchoring Bias
- The first information we receive gets more weight

Sunk Cost Bias
- “But look at the money we’ve already spent”

Just something to keep in mind.
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