1. But that’s perfectly fine, if we know it
We are all stupid
But that’s perfectly fine, if we know it

4. We’ve been evolved to survive predators and bugs. Not doing analysis.

6. Most of your day to day decisions are shaped by System 1.
And it’s okay.

7. When dealing with anything other than predators, we should use System 2 whenever we can.

8. Whenever Because System 2 is hard thinking. It’s painful.
It requires patience. And self-control.

10. Recognizing System 1 symptoms is the first step. We call them biases.

11. 1. Halo Effect
Your overall impression of a person ("He is nice!") impacts your evaluations of that person's specific traits ("He is also smart!").
Eg. celebrities, since we perceive them as attractive, successful, and often likable, we also tend to see them as intelligent, kind, and funny.

13. 2. Anchoring
The tendency to rely too heavily, or "anchor", on one trait or piece of information when making decisions (usually the first piece of information acquired on that subject).

14. All you care about here is 75%, not that even $250 for a tee is still way too high a price.

15. 3. Availability heuristics
When we make decisions we tend to be swayed by what we remember. What we remember is influenced by many things including beliefs, expectations, emotions, and feelings as well as things like frequency of exposure. Eg. most of us are influenced by distorted mainstream media.

17. 4. Bandwagon Effects
The tendency to do (or believe) things because many other people do (or believe) the same.
Eg. iPhones, Nikes, Gucci etc.

19. 5. Confirmation bias
The tendency to search for, interpret, focus on and remember information in a way that confirms one's preconceptions.

21. 6. Hindsight bias
Sometimes called the "I-knew-it-all-along" effect, the tendency to see past events as being predictable at the time those events happened.

23. 7. Curse of knowledge
When better-informed people find it extremely difficult to think about problems from the perspective of lesser-informed people.
Every single designer/developer/marketer suffers from this. Every single website/web app has got elements of it.

25. 8. Dunning–Kruger effect
The tendency for unskilled individuals to overestimate their own ability and the tendency for experts to underestimate their own ability.
That’s why newcomers into any field can’t stop boasting and elders/seniors are mostly quiet.

27. 9. IKEA effect
The tendency for people to place a disproportionately high value on objects that they partially assembled themselves, such as furniture from IKEA, regardless of the quality of the end result. Eg. every single person defends his or her own work regardless of business objective.

29. 10. Sunk cost or “finish the job” fallacy
Reasoning that further investment is warranted on the fact that the resources already invested will be lost otherwise, not taking into consideration the overall losses involved in the further investment.

31. 11. Survivorship bias
We tend to focus only on the successful, and ignore the unsuccessful ones.
Eg. the client wants to create another Quora, focusing on its success and not on hundreds of failed Quora-clones that came along and faded away into oblivion.

33. Stop. Ask.
Try as much as you can, whenever the moment is appropriate, to stop, pause and think again. It’s always better than instant decision.

34. Prepared for Dignitas Digial
Thank you
Prepared for Dignitas Digial
Chitra Biswas