My Rational Pony - Pages 31 - 40

It one of the most influential cognitive biases, as well as confirmation bias.

People can draw bad conclusions and made bad choices. And if it combines with low competence Dunning–Kruger emerge: people can't be aware of their own errors due to the lack of competence. As a result people tend to overestimate their own skills and knowledge when it is on the low level. Such a person also tends to incorrectly estimate the level of skill of another person.

From time to time any recollection can get a wrong source during reconstruction from memory. Any event which was told by other people, seen in movies, read in books, all could be confused one for another.

The bias includes different situations when people tend to preserve the current state of things. And usually this state already exists for a certain period of time.

If a person is very well informed about some area of knowledge or some problem, he may perceive difficult things as simple. And such a person would have some difficulties understanding other people who are not so well-versed in the basic concepts of the field. And the person also may find it difficult to explain these ideas to others, because when he understands something well others will not understand it.

Pareidolia is a form of apophenia, the phenomenon of seeing connections and patterns in insignificant and random data.

If a person has different kind of resources better resources will be spent faster and its amount will be smaller. It may be the reason why less common resources are considered more valuable. Also decreasing of resource amount may be perceived as losing freedom of choice, which may also facilitate to value the resource more.

If a probability is disregarded or overrated instead of correct evaluation, it may be the result of neglect of probability effect.

Also known as Baader-Meinhof phenomenon and observation selection bias.

It is possible that the effect can be found in psychoanalysis when reconstructing childhood memories.