Exponential Organizations: Why new organizations are ten times better, faster, and cheaper than yours (and what to do about it)

by Salim Ismail

Anchoring bias: Tendency to rely too heavily, or “anchor,” on one trait or piece of information when making decisions. Availability bias: Tendency to overestimate the likelihood of events with greater “availability” in memory, which can be influenced by how recent the memories are or how unusual or emotionally charged they may be. Confirmation bias: Tendency to search for, interpret, focus on and remember information in a way that confirms one’s preconceptions. Framing bias: Drawing different conclusions from the same information, depending on how or by whom that information is presented. Optimism bias: Tendency to be over-optimistic, overestimating favorable and pleasing outcomes. Planning fallacy bias: Tendency to overestimate benefits and underestimate costs and task-completion times. Sunk-cost or loss-aversion bias: Disutility of giving up an object is greater than the utility associated with acquiring it. Complete list of all cognitive biases: http://en.wikipedia.org/wiki/List_of_cognitive_biases