The Decision Lab

Numerous studies have found that the more times we hear false information repeated, the more likely we are to believe it's true. The scary part: this effect persists even when people are told upfront that what they're hearing is misinformation. Why does this happen? When something seems familiar, it becomes cognitively easier for us to process. This ease — known as "processing fluency" — is an important cue our brains use when judging whether or not something is true. #behavioralscience #cognitivebias #psychology https://lnkd.in/eDdcVA2X

Only the brave dare to seek out the truth. Are you ignoring the signs that something spooky is lurking? There is something scary about not updating our beliefs, especially when there's proof to back up that we are wrong about something. Confirmation bias is one of the most infamous, and we all suffer from it. What is it exactly? Confirmation bias describes our tendency to seek out information that complies with our already existing beliefs and pushes us to disregard opposing information. This isn’t a ghost story. In our hyper-connected world, we are constantly bombarded with information. And, if we aren’t careful, we could get stuck in some pretty eerie echo chambers. So… what do we do? Read the full article on TDL’s website: https://lnkd.in/ebCd26VT

QUICK, QUICK What’s your 10-year plan? Oh… you don’t know? Just kidding, you don’t need to have it all figured out right now; many of us don’t. We live in a world of increasing distractions, and sure, we can say we are “living in the moment,” but are we really if we are constantly burdened by our fears about the future? In her latest article, Yael Mark explains why it’s so challenging to think practically about our next steps. Specifically, she draws our attention to our relationship with technology, which has become even more complicated with the rise of gamification. While it may be fun, this is what keeps us dopamine-hungry and tethered to our devices.  How do we break the cycle? Yael’s suggestion may surprise you. Leverage your cognitive biases. At the same time as mental shortcuts can get us into trouble, they can also help us measure our progress and refocus our attention on the task at hand. Ready to start planning? Read Yael’s full article here: https://lnkd.in/eWt9bE4x

"Money is the root of all evil.” “Money can’t buy happiness.” “Mo’ money, mo’ problems.” These and plenty of other common sayings about money insist that income isn't correlated with happiness. And for years, many of us have believed that science backed up this claim. In actuality, the picture is a little more complicated. You may have read that $75,000 is the "magic number" when it comes to buying happiness: it's been reported that after this point, the correlation between yearly income and life satisfaction disappears. But as it turns out, the study this figure came from has been widely misunderstood. What the study authors actually argued was that an income of $75,000 USD/year was the threshold for keeping most day-to-day financial concerns at bay. But this number didn't account for variation in financial obligations — for example, living in the countryside versus living in the city, or living alone versus supporting a family — and it doesn't account for inflation, either. So, what's the actual verdict? Can money buy happiness or not? Triumph Kerins digs into the evidence. https://lnkd.in/gWxZk_pW

Today, a lot of us get our information on the internet, for better or for worse. As AI tools become more and more sophisticated, they’re transforming how we create content and, as a consequence, how misinformation can spread. The research from Zhou, Zhang, Luo, Parker, and De Choudhury delves into the powerful — and sometimes troubling — capabilities of AI in generating persuasive, human-like misinformation. AI-generated misinformation is more linguistically complex, using credible-sounding details and cognitive reasoning that make it challenging to distinguish from human-created content. Traditional misinformation detection models struggle to detect AI-generated content, signaling the need for updated approaches. AI can simulate credibility with citations and 'evidence' that passes standard assessments, highlighting the urgency for refined guidelines in evaluating information. This study is a wake-up call for those in tech, journalism, and content creation to evolve our misinformation defenses and ensure responsible AI usage. Read the full article here: https://lnkd.in/ez3urfsX

You’ve probably heard of UX — but what about EX? 📱 Many companies have mastered the art of using behavioral science tools like journey mapping to enhance user experiences — while failing to account for the people behind those experiences. Overlooking employees comes at a high cost. According to a McKinsey survey, a staggering 40% of employees said they were at least somewhat likely to leave their jobs within 3 to 6 months. Yet, despite this clear signal of burnout and dissatisfaction, the employee experience (EX) often takes a back seat. But there’s hope: the same strategies that elevate UX can be applied to EX. By identifying employee personas, mapping their journeys, pinpointing pain points, and crafting tailored interventions, leaders can create a workplace where employees thrive. Ready to unlock a better employee experience? Dive deeper into journey mapping for EX on our website. 👇 https://lnkd.in/e2KUnt6w

Everybody makes mistakes — but we tend to judge others more harshly than ourselves. When your new coworker drops the ball on a project, it's easy to conclude that they're lazy or disorganized. But if we miss a deadline, we’re quick to identify our toddler-induced sleep deprivation as the inciting factor. We call this double standard the fundamental attribution error. While our missteps feel purely situational, others’ flaws seem deeply rooted in their personalities. Or at least, that’s what we like to tell ourselves. Read more about the fundamental attribution error on our website. 👇 https://lnkd.in/eTa4CuN4

Struggling to pay off credit card balances? Your personality might be playing a bigger role than you think. 💳 According to our latest research, certain personality traits can significantly influence repayment behaviors. Here are three factors that stand out: 💥 High Impulsivity: Quick to give into instant gratification? Impulsivity can lead to prioritizing new purchases over paying off debt, even when those balances add up. 📅 Low Conscientiousness: Planning for the future isn’t always easy — and if organization isn’t your strong suit, you might keep pushing repayment further down the road. 😰 High Neuroticism: Feeling stressed or anxious about finances? High neuroticism can make it harder to face credit card bills, often leading to delayed payments. Fortunately, this doesn't mean those with these traits are destined to stay in debt. As Hector Alvarado, one of our managing directors, explains in our latest article, financial institutions can use personality insights to design personalized repayment strategies tailored to customers' unique profiles. Learn how to start planning your finances based on your personality below. 👇 https://lnkd.in/gfk92Bu4

In marketing, this cognitive bias often makes or breaks the deal. 🛍️ The framing effect shows how the way information is presented can shape our choices. This bias is especially powerful in retail, where a simple shift in phrasing or percentage can change how attractive a product seems — and ultimately, whether we decide to buy it. So, what does effective framing look like? It all boils down to three key ingredients: 1. Focus on gains instead of losses 💡 Highlighting potential benefits rather than drawbacks taps into our preference for positive outcomes, making offers more appealing. 2. Keep your message simple 🧠 A clear, straightforward message helps avoid cognitive overload, ensuring that customers focus on what matters most. 3. Appeal to emotions ❤️ Emotionally charged messages resonate more deeply with customers, influencing their decisions beyond just the facts. Want to dive deeper into how framing shapes our decisions in marketing and beyond? Read more on our website 👇 https://lnkd.in/gRnccfzJ

Can nudges still work when we know we're being nudged? 🤔 For years, nudges have been thought to work best when they fly under the radar, subtly shaping our decisions without us realizing it. This has sparked debates about transparency — shouldn’t people know when their choices are being influenced? But a recent paper by Patrik Michaelson from the University of Gothenburg challenges this assumption. The study finds that nudges can remain effective even when we’re aware of them, suggesting that transparency doesn’t necessarily undermine their impact. Curious about where this research holds up — and where it might not? Dive into the details from Cambridge University Press & Assessment below. 👇 https://lnkd.in/eu__4ttU