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Survivorship Bias

Survivorship Bias is the tendency of human beings to overestimate the likelihood of success, when undertaking a new and risky business venture. This is likely to happen if you think about it, as other peoples (and businesses) successes are easy to spot publicly, whereas those who fail with a new Read more…

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Sunk Cost Fallacy

Another way of explaining Sunk Cost Fallacy, is to use the old saying  ‘ throwing good money after bad ‘. Once you have invested a lot of time and money into a project or venture, then you are less likely to abandon the project or venture. An example of this Read more…

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Confirmation Bias

Once humans have made a decision, they find it uncomfortable and difficult to change their minds. Brexit is a good example. You only have to look at twitter to realise that whether you voted Leave or Remain, you probably are following other people with referendum views which closely mirror you Read more…

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Blue is the colour

According to some research I read recently, most adults prefer the colour blue. This is why it is a popular colour for logo design and company advertising. Have a look round and put this to the test. Think Facebook for instance. Blue is considered to signify calmness and strength, whereas Read more…