Distinction Bias 📊
🧠 Psych - 56 / 100
Hello,
Today, we will be talking about the Distinction Bias 📊.
What is it?
Finding the distinction between multiple options make us overvalue the difference.
Example -
It often comes into play when we’re searching for a new home. During the process of looking for a new place to live, we might find ourselves comparing two potential options.
To an extent, this is a good thing. It’s valuable to assess the pros and cons of each option and evaluate which best meets our needs, but taking the comparisons too far can lead to poor decisions.
When it comes down to it, is it really worth paying more for a few extra square feet that we don’t really need? Or high ceilings that, while they look nice, probably aren’t all that important?[1]
Where does it occur?
Distinction Bias plays in the scenarios where you are bound to choose between one of the two or many options.
When making decisions where the stakes are greater than a cup of coffee, distinction bias can be quite detrimental. For example, it can cause us to go over budget when shopping for things like a new car or television. [1]
Why do I need to know?
Part of what gives rise to this bias is the disconnect between our prediction of which option will lead to the most favorable outcome and our actual experience of choosing that option.
Furthermore, this bias is driven by the fact that, when we directly compare two options, we tend to focus on specific details, instead of judging each option holistically. [1]
Takeaways:-
Don’t compare two options, side by side. Explore one option fully and check on the basis of whether it checks your list of fit or not.
References & Studies:-
https://thedecisionlab.com/biases/distinction-bias/
https://www.psychologytoday.com/us/blog/automatic-you/201803/distinction-bias-why-you-make-terrible-life-choices
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