Emotional Biases

“Emotions are like unruly horses, which require the rider’s full attention and skill to handle effectively.” — Daniel Goleman

Our emotions have a strong impact on how we perceive and react to the world around us, often leading to biases in our decision-making.

This list outlines some common emotional biases that we all can fall prey to, but by understanding and recognizing them, we can become more aware and make more informed choices.

From the positivity and negativity biases to the sunk cost fallacy and framing effect, each bias is explained in plain language to help you better understand how they can impact your thinking and actions.

Read on to learn more about emotional biases and how to overcome them.

What are Emotional Biases?

Emotional biases refer to the influence of emotions on one’s thought processes and decision-making, often leading to subjective and irrational judgments.

These biases can arise from both positive and negative emotions and can impact various areas of life, including personal relationships, work, and financial decisions.

Examples of emotional biases include the affect heuristic, mood-congruent bias, and framing effect.

Emotional Biases

Here are common emotional biases:

1. Anchoring bias: Being influenced by the first piece of information encountered when making a decision or judgment.
2. Confirmation bias: Seeking out information that confirms our preexisting beliefs, rather than considering all evidence objectively.
3. Empathy gap bias: Failing to accurately consider how we will feel in the future, especially when we are in a different emotional state than we will be in the future.
4. Endowment effect: Overvaluing something simply because we own it.
5. Focusing effect: Overemphasizing one particular aspect of a situation while ignoring others.
6. Framing effect: Being influenced by the way information is presented to us, rather than just the information itself.
7. Negativity bias: Paying more attention to negative information than positive information.
8. Positivity bias: Paying more attention to positive information than negative information.
9. Emotional contagion bias: Being influenced by the emotions of those around us.
10. Halo effect: Assuming that someone who is good at one thing is good at everything.
11. Ingroup bias: Preferring and being more likely to help people who are similar to ourselves.
12. Just-world bias: Believing that the world is fair and that people get what they deserve.
13. Mood-congruent bias: Recalling information that is congruent with our current mood.
14. Outgroup bias: Being less likely to help or favor people who are not part of our group.
15. Projection bias: Assuming that other people share our beliefs or values.
16. Reactance bias: Reacting strongly against restrictions or attempts to limit our freedom.
17. Self-serving bias: Taking credit for successes, but blaming external factors for failures.
18. Status quo bias: Preferring to keep things the way they are, even if change might be better.
19. Stereotyping bias: Making assumptions about people based on stereotypes rather than individual characteristics.
20. Sunk cost fallacy: Continuing to invest in something even when it no longer makes sense, simply because we have already invested so much.

10 Examples How To Use Emotional Biases to Think Better

Here are 10 examples how by knowing emotional biases you can think better and make more informed-decisions:

1. Anchoring Bias: By recognizing this bias, you can avoid being influenced too heavily by the first piece of information you encounter in a decision-making process. Instead, actively seek out additional information and perspectives to make a more informed decision.  An example of the anchoring bias would be when a salesperson sets a high initial price for a product, which then anchors the customer’s perception of the product’s value. This makes it more difficult for the customer to accept a lower price, even if it’s still a fair deal. To avoid this bias, it’s important to research the market value of a product before making a purchase and be aware of any attempts to anchor your perception of its value.
2. Confirmation Bias: Be aware of your tendency to seek out information that confirms your existing beliefs, and make a conscious effort to consider information that challenges your assumptions.  An example of confirmation bias is when a person forms a strong belief about a topic, such as politics or religion, and then only seeks out information that confirms their existing beliefs while ignoring or dismissing any information that contradicts their views. For instance, a person who believes in a certain political ideology may only consume media and news sources that align with their beliefs, thus reinforcing their preconceived notions and making it difficult to consider alternative perspectives.
3. Empathy Gap Bias: Recognize that you may not always be able to accurately predict how you will feel in the future, and try to make decisions based on the objective facts rather than your current emotional state.  Empathy gap bias is the tendency to underestimate the influence of visceral drives and overestimate the influence of cognitive variables on other people’s behavior. An example of empathy gap bias is when a person, who has never experienced addiction, judges someone who is addicted to drugs or alcohol and says, “Why can’t they just quit? It’s so easy.” They may not fully understand the complex physiological and psychological factors that contribute to addiction and may overlook the intense cravings and withdrawal symptoms that make it difficult for the addicted person to quit.
4. Endowment Effect: Understand that your emotional attachment to something may not be an accurate reflection of its actual value, and try to make decisions based on objective assessments rather than emotional attachment.  An example of endowment effect is when someone is willing to pay more for an item they already own than they would pay to acquire the same item from someone else. For instance, a person may place a higher value on a used car they already own and are looking to sell than what they would pay for an identical car being sold by someone else.
5. Focusing Effect: Be aware that your current emotional state may bias your perception of a situation, and try to consider multiple perspectives to gain a more accurate understanding of the situation.  An example of the focusing effect is when a person becomes fixated on a single aspect of a decision or event and ignores other important factors. For instance, a person may focus solely on the salary when considering a new job offer and fail to consider other factors like job satisfaction or opportunities for growth. By recognizing the focusing effect, one can make a conscious effort to broaden their focus and consider multiple factors before making a decision.
6. Framing Effect: By recognizing this bias, you can avoid being swayed too heavily by the way information is presented, and instead try to consider information from multiple perspectives.  An example of the framing effect is when a company advertises a product as “95% fat-free” instead of “5% fat.” The positive framing of the message can make the product more appealing to consumers. Similarly, in politics, the framing of an issue can influence public opinion. For instance, a policy proposal may be presented as a “tax relief” rather than a “tax cut,” which can change how people perceive the proposal.
7. Negativity Bias: Recognize that your tendency to focus on negative information may cause you to overlook positive aspects of a situation, and make a conscious effort to consider both the positive and negative aspects when making decisions.  An example of negativity bias is when someone receives ten compliments and one criticism, but they focus more on the criticism than the compliments, allowing it to affect their mood and overall self-perception.
8. Positivity Bias: Similarly, recognize that your tendency to focus on positive information may cause you to overlook potential negatives, and make a conscious effort to consider both the positive and negative aspects when making decisions.  An example of Positivity Bias is when a person evaluates their own qualities and abilities more positively than they objectively warrant. For instance, a student who receives an average grade on an exam but believes they performed exceptionally well because they answered a few questions correctly may exhibit positivity bias.
9. Emotional Contagion Bias: Be aware that the emotions of others may influence your own emotions, and try to consider information objectively rather than being swayed by the emotions of others.  Emotional contagion bias can occur when an individual’s emotions are influenced by the emotions of those around them. For example, if a person enters a room full of people who are anxious and stressed, they may begin to feel anxious and stressed themselves, even if they weren’t feeling that way initially.
10. Sunk Cost Fallacy: Recognize that the time, effort, or resources you have already invested in something may not be a good reason to continue investing in it, and make decisions based on the future potential rather than past investments.  An example of the sunk cost fallacy is when someone continues to invest money in a failing business or project simply because they have already put so much time, effort, and money into it, even though it is unlikely to be successful in the future. They are focusing on what they have already invested instead of making a decision based on what is best for them moving forward. This can lead to further losses and missed opportunities. To overcome this bias, it is important to focus on future costs and benefits rather than past investment.

To Think Better, Slow Down and Take a Multi-Perspective View

Emotional biases can significantly impact our decision-making process, leading us to make choices that are not based on rational or objective factors.

It’s important to be aware of these biases to avoid making impulsive or irrational decisions.

To minimize their effects, we can try to slow down our decision-making process, consider multiple perspectives, and actively seek out information that challenges our existing beliefs.

Additionally, we can work on becoming more mindful of our own emotions and biases, and strive to cultivate empathy and understanding for others.

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