13. Anchoring With Irrelevant Information
Rigged wheel of fortune
Always 10 or 65
Write down the number
“Is the percentage of African
nations in the UN higher or
lower than this?”
“What is the percentage?”
14. So… What Can We Do?
You can’t stop System 1
You shouldn’t stop System 1
Be aware of System 1 biases
15. Watch Out For Biases
Priming
Cognitive Ease
Familiarity
Halo Effect
Anchoring
Look at how we make decisions
Automatic processes evolved over millenia
Not always right - optimised for survival
Learn to be aware of when they may be wrong
Tested on thousands of students
At Princeton, MIT and Harvard: more than 50% said “10p”
Other universities: more than 80% said 10p
Students at New York University aged 18-22
Asked to assemble sentences using four words out of five
One group: half sentences have “old people” words in
Afterwards, walk down corridor for another test
Walk took statistically significantly longer in the old group
Hands up who believes which
Actually born 1889, but most believe the bold font - easier to read
Front page advert in University of Michigan student newspaper
Frequency: 1, 2, 5, 10, 25
Ask for impression of each word: “something good” or “something bad”
More frequent = more favourable
Who would you most like to work with?
Average among subjects who saw 10: 25%
Average among students who saw 65: 45%