This book helps us to recognise and then some common errors of judgement we fall prey to on a regular basis, so we can make better decisions in life.
Have you ever:
• Invested time in something that, with hindsight, just wasn't worth it?
• Overpayed in an Ebay auction?
• Continued doing something you knew was bad for you?
• Sold stocks too late, or too early?
• Taken credit for success, but blamed failure on external circumstances?
• Backed the wrong horse?
Here is one of the bias:
SURVIVORSHIP BIAS: People systematically overestimate their chances of success. A detailed study of once-promising projects, investments & careers will help you clear your mind. Few ventures make it great & they get highlighted.
SWIMMER’S BODY ILLUSION: How the illusion works for a product or a company to be successful? Professional swimmers don’t have perfect body because they train extensively. Rather, they are good swimmers because of their physiques. Similarly, models advertising for cosmetics are born attractive and beautiful. Thus, leaving an illusion on female consumer that it’s the effect of cosmetics that had made them one.
These are caused by cognitive biases ,thinking errors that most of us don’t realise are happening but that can seem so obvious when pointed out.
The Art of Thinking Clearly is an excellent and entertaining book providing a good overview of human cognitive behaviors. With plenty of anecdotes, stories and quotes, this book is an ideal book to read.
