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STABILITY BIAS

PERSONALIZED GUIDANCE REPORT

Stability biases are one grouping of cognitive biases. These biases are innate tendencies to create stability in the presence of uncertainty. 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 stability bias is one of six different grouping of cognitive biases: 

  1. Action-oriented: Drive us to take action less thoughtfully than we should.  

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

  3. Pattern recognition: Lead us to recognize patterns and sometimes imagine them even where there are none. 

  4. Stability: Create a tendency toward inertia in the presence of uncertainty. 

  5. Social: Arise from the preference for harmony over conflict. 

  6. Self-related: Cause us to judge ourselves differently than we understand and judge others. 

The following graphic is based on your responses and reveals insights into your tendency to create stability in the presence of uncertainty.  

Read on to learn more! 

SUNKEN COST FALLACY

We continue to pursue an idea or project in which we are already invested. 

YOUR PERSONAL GUIDANCE

Your responses indicate that you would not make changes because you think you are already in too deeply involved in something to back out or make changes even when you realize it is a lost cause. This bias severely impairs your perception of people and situations, causing you to accept bad conditions and make poor decisions. Being aware of this bias will help you evaluate people and situations objectively and make sound decisions.

UNDERSTANDING OTHERS

Other people might be influenced by the Sunken Cost Fallacy bias more or less than you are. Understanding other individuals’ bias levels will help promote constructive conversations with them.

Individuals strongly influenced by this bias would not make changes because they think they are already in too deeply involved in something to back out or make changes even when they realize it is a lost cause. This bias severely impairs their perception of people and situations, causing them to accept bad conditions and make poor decisions. Being aware of this bias will help them evaluate people and situations objectively to make sound decisions. 

Individuals moderately influenced by this bias are afraid to make changes because they believe they are already too involved to back out or make changes even when they realize it is a lost cause. However, this bias doesn’t always impact their decisions. Being aware of this bias will help them reevaluate a potential change of course when they find themselves thinking like this.  

Individuals free of this bias can view people and situations objectively regardless of the amount of effort invested into a project or relationship. They do not succumb to the thought that they are too invested in a project or relationship to back out. Instead, they are likely to visualize how things might play out in the future and make decisions accordingly. They can re-evaluate their perceptions about people and situations and make sound decisions.  

AUTHORITY EFFECT

We inherently trust figures of authority. 

YOUR PERSONAL GUIDANCE

Your responses indicate that you tend to be influenced by leaders and expert opinion while making decisions. You usually, but not always, follow their advice and refrain from doing your own research. Being aware of this bias will help you reevaluate how you seek information to make decisions.

UNDERSTANDING OTHERS

Other people might be influenced by the Identifiable Victim bias more or less than you are. Understanding other individuals’ bias levels will help promote constructive conversations with them. 

individuals strongly influenced by this bias are heavily influenced by leaders and experts while making decisions. They are likely to follow their advice and refrain from doing their own research or seeking other sources. This bias encourages them to completely trust authority figures. Being aware of this bias this will help you overcome the shadow / halo effect of the people they hold in high esteem and make decisions based on their independent thoughts.

Individuals moderately influenced by this bias tend to be influenced by leaders and expert opinion while making decisions. They usually, but not always, follow advice and refrain from doing their own research. Being aware of this bias will help them reevaluate how they seek information to make decisions.

Individuals free of this bias are not influenced by leaders and experts. They would rather find their own answers, do their own research to understand issues and arrive at conclusions. They would rather have data to back their decisions than go along with a leader’s opinion. They can overcome this bias to make independent decisions. 

IMPACT BIAS

We overestimate the intensity of how we will feel about future events.

YOUR PERSONAL GUIDANCE

Your responses indicate that you may tend to be afraid to make changes due to the fear of losing what you already have. However, you may not always be driven to make decisions based on this fear.

UNDERSTANDING OTHERS

Other people might be influenced by the Impact bias more or less than you are. Understanding other individuals’ bias levels will help promote constructive conversations with them. 

Individuals strongly influenced by this bias are afraid to make changes because they fear losing what they already have. This bias makes them believe that it would be painful to leave behind what they already have and that they may not find anything equivalent in a new place or in the future. Being aware of this bias will help them make better decisions, especially those that include slight risk taking and offer new opportunities.  

Individuals moderately influenced by this bias tend to be afraid to make changes due to the fear of losing what they already have. However, they may not always be driven to make decisions based on this fear.  

Individuals free of this bias are open to and excited about new opportunities. They do not allow the fear of the unknown to compel them to stay with the familiar or status quo. They view any new opportunity as a refreshing change that is likely to be lucrative and joyful. 

SCARCITY BIAS

Our fear and anxiety about the threat of missing out triggers us into action, making us more vulnerable to temptation and impulse. 

YOUR PERSONAL GUIDANCE

Your responses indicate that you are free of this bias and do not make rash decisions based on the fear of missing out on information about family, friends, colleagues, or current affairs. You can stay calm in the absence of information. You can also practice self-control and make well-considered decisions.

UNDERSTANDING OTHERS

Other people might be influenced by the Scarcity bias more or less than you are. Understanding other individuals’ bias levels will help promote constructive conversations with them. 

Individuals strongly influenced by this bias fear losing out on information by not keeping up with family, friends, colleagues, or current affairs. This can cause anxiety in them. This bias can lead you to make decisions that are not thought through or are hasty as they are driven by the feeling of missing out. Being aware of this bias this can help make better decisions that are not driven by impulse or temptation to make hasty decisions. 

Individuals moderately influenced by this bias tend to worry when there is a possibility of losing out on information, not staying in touch with the current affairs or not being in touch with the things happening in the here and now. However, this does not always happen. 

Individuals free of this bias do not succumb to information and triggers that can tempt one to buy goods or to stay in touch with the here and now. They can stay calm and away from too much information. They can also practice control and make well thought through decisions. 

STATUS QUO BIAS

We prefer consistency over change, so we assess the potential loss of leaving the status quo more heavily than the potential gain of trying something new.

YOUR PERSONAL GUIDANCE

Your responses indicate that you like a stable and balanced life. However, you do not always prefer the status quo and may sometimes choose to take a new opportunity. Being aware of this bias this would help you make decisions that are more balanced and open to calculated risks.

UNDERSTANDING OTHERS

Other people might be influenced by the Status Quo bias more or less than you are. Understanding other individuals’ bias levels will help promote constructive conversations with them. 

Individuals strongly influenced by this bias prefer a stable and predictable life over an exciting and ever-changing life. When faced with opportunities that could make a huge difference, they would rather maintain the status quo than face the ups and downs that the change would bring. Being aware of this bias would help them make decisions that are more balanced and open to calculated risks. 

Individuals moderately influenced by this bias like a stable and balanced life. However, they do not always prefer the status quo and may sometimes choose to take a new opportunity.

Individuals free of this bias welcome opportunities to start afresh. They do not hold on to the status quo as it does not give them a sense of comfort. Instead, they seek to lead an exciting, ever-changing life.  

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. 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. 

This guidance was based on your responses to the Social Biases quiz which is one of six different grouping of cognitive biases: 

  1. Action-oriented biases: Drive us to take action less thoughtfully than we should. Take the Action-oriented Biases Quiz 

  2. Interest biases: Arise in the presence of conflicting incentives, including non-monetary and even purely emotional ones. Take the Interest biases Quiz 

  3. Pattern recognition biases: Lead us to recognize patterns and sometimes imagine them even where there are none. Take the Pattern recognition biases Quiz 

  4. Stability biases: Create a tendency toward inertia in the presence of uncertainty. Take the Stability bias biases Quiz 

  5. Social biases: Arise from the preference for harmony over conflict. Take the Social biases Quiz   

  6. Self-related biases: Cause us to judge ourselves differently than we understand and judge others. Take the Self-related biases Quiz

 

Talent Transformation has also developed worksheets to help you develop work on your biases to help you improve your decision making, problem solving, relationships and in being fair. Link to Cognitive Biases Workbook.