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Interest Biases

Personalized guidance report

Interest biases, a subset of cognitive biases, arise in the presence of conflicting incentives, including non-monetary and even purely emotional ones. Developing an awareness of your biases brings them to the forefront of your thinking and is the first step toward change. Working to overcome your biases will help you improve your decision-making and problem-solving. It will also enhance your relationships and help you treat people fairly.

The following graphic is based on your responses and reveals insights into your decision making tendency in the presence of conflicting incentives, including non-monetary and even purely emotional ones.

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Hover on any of the graph to get detailed information about each factor.

Click on any of the graph to get detailed information about each factor.

The stability bias is one of six different groupings of cognitive biases:

Mere Exposure Effect

We are likely to develop a preference for something just because it is familiar.

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Understanding others

The Mere Exposure Effect might influence others more or less than you. Understanding other individuals’ bias levels will help promote constructive conversations with them.

 

  • Individuals strongly influenced by this bias prefer familiarity to new options. They are likely to rely on using or trusting something because they are well-acquainted with it. They find it safe and easy to opt for popular or visible brands than something new or unknown. This bias makes them believe that new things or ideas are difficult and cumbersome, compelling them to stay with the familiar. Being aware of this bias will help them make better, objective decisions.

  • Individuals moderately influenced by this bias tend to be comfortable with what is familiar. They may sometimes also tend to use or trust something because they are well-acquainted with it. They sometimes find it safer and easier to opt for popular or visible brands instead of something new or unfamiliar.

  • Individuals free of this bias can appreciate the advantages of new and unknown things or ideas. They are likely to be more comfortable exploring beyond their comfort zone than staying in it, and they are curious about what is new and different in the market. This attitude makes them open to new ideas and equips them for informed decision-making.

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Truth Effect

We sometimes believe information to be correct after repeated exposure to it.

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Understanding others

The Truth Effect might influence others more or less than you. Understanding other individuals’ bias levels will help promote constructive conversations with them.

 

  • Individuals strongly influenced by this bias strongly believe a piece of information when it is repeated many times. This bias doesn’t allow people to look at things open-mindedly. Awareness of this bias will help people pause and think to help them make better, well-informed, and objective decisions.

  • Individuals moderately influenced by this bias tend to believe a piece of information repeated many times, and they may sometimes be open to different views and theories.

  • Individuals free of this bias can have an open mind toward ideas, viewpoints, and theories. They do not believe in something, even if it is repeated many times. They are likely to be objective when they come across information or news supporting or negating their beliefs.

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Your Personalized Guidance

We've analyzed your responses to the questionnaire and created personalized guidance for the five biases contributing to your Interest Biases.
Read on to learn more!

Choice Supportive Bias

We may regard our past choices as better decisions than they were. In thinking too highly of our decisions, we often downplay their negative attributes.

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Understanding others

The Interest bias might influence others more or less than you. Understanding other individuals’ bias levels will help promote constructive conversations with them.

 

  • Individuals strongly influenced by this bias are committed to their decisions and do not revisit or re-evaluate them. At times, when presented with data that may contradict their beliefs, they find it hard to believe the evidence and may refute the data and stand by their choices or decisions. This bias also makes them believe their previous decisions were always the best in the given situations. Being aware of this bias will help them regulate their behaviors and mitigate the impact of this bias to help them make better decisions.

  • Individuals moderately influenced by this bias generally oscillate between holding on to their beliefs/decisions and viewing them skeptically. When presented with data that contradicts their beliefs, they may or may not change their stand depending on the situation. They do not always believe their previous decisions have been the best.

  • Individuals free of this bias can objectively evaluate their previous decisions, and they are open to re-assessing their currently held beliefs and ideas. When presented with data that contradicts their beliefs, they can question and re-think their decisions, beliefs, and choices.

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Buyer’s Remorse

Cognitive dissonance causes us to second-guess a buying decision.

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Understanding others

The Buyer’s Remorse bias might influence others more or less than you. Understanding other individuals’ bias levels will help promote constructive conversations with them.

 

  • Individuals strongly influenced by this bias usually regret decisions soon after they make them, especially those related to buying things. This bias makes them think they would have received an offer price, or deal if they had waited a little longer, thought enough, or chosen a different product. Being aware of this bias will help them regulate their behaviors and mitigate the impact of this bias to help them make better decisions.

  • Individuals moderately influenced by this bias experience an unsettling feeling soon after they make them, especially those related to buying things. This bias sometimes makes them think they would have received a better offer, deal, or price had they waited longer. However, they do not always think this and sometimes can experience a sense of happiness with their spending decisions.

  • Individuals free of this bias are happy with their decisions and rarely regret them, especially those related to buying things. Instead of focusing on what they might have missed, they focus on the decision made and the benefits or experience the product will provide.

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Instant Gratification

We tend to prefer instant over delayed gratification. The farther away the reward, the more likely we are to dismiss it.

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Understanding others

The Instant Gratification bias might influence others more or less than you. Understanding other individuals’ bias levels will help promote constructive conversations with them.

 

  • Individuals strongly influenced by this bias would rather use the benefits available immediately than wait until later, even if waiting would be advantageous. This can lead them to miss out on improved benefits later. Being aware of this bias will help them regulate their behaviors and mitigate the impact of this bias to help them make better decisions.

  • Individuals moderately influenced by this bias sometimes prefer the instant gratification of cravings and desires over waiting for a better offer later. However, they do not always choose to act right away.

  • Individuals free of this bias can easily wait for something better than what is immediately available. They can overcome the desire for instant gratification and wait for better offers, incentives, and benefits.

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Talent Transformation has also developed worksheets to help you work on your biases to help you improve your decision-making, problem-solving, relationships, and fairness.

Conclusion

Cognitive biases are innate. However, developing an awareness of your biases brings them to the forefront of your thinking and is the first step toward change. Overcoming your biases will help you improve your decision-making and problem-solving. It will also enhance your relationships and help you treat people fairly.

This guidance was based on your responses to the quiz on Interest Biases, one of six grouping of cognitive biases:

Action-oriented biases:

Drive us to take action less thoughtfully than we should.

Interest biases:

Arise in the presence of conflicting incentives, including non-monetary and even purely emotional ones.

Interest biases:

Current Quiz
Pattern recognition biases:

Lead us to recognize patterns and sometimes imagine them even where none exist.

Stability biases:

Create a tendency toward inertia in the presence of uncertainty.

Social biases:

Arise from the preference for harmony over conflict

Self-related biases:

Cause us to judge ourselves differently than we understand and judge others.

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Introduction

Self

Introduction

Self

5 Groupings

Choice Supportive
Bias

Introduction

Buyer’s Remorse

Introduction

Instant Gratification
Bias

Introduction

Mere Exposure Bias

Introduction

Truth Effect

Introduction

Self

Conclusion

Based on your responses we recommend:

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