Illusions & Biases

We are born with #illusions and growing up with #bias. Even when we are confident about our intelligence and our deliberate #decision, we cannot avoid the fact that we make a lot of mistakes throughout our lives caused by illusions and biases. Well, we have to admit that it is very difficult to find illusions and biases in ourselves, since it often comes from our subconscious thinking.

If you are a business start up, take illusions and bias seriously. You should be aware of overconfidence, illusions of control, and belief in the law of small number. According to Simon, Houghton and Aquinoc in their paper, #entrepreneurs are more likely to show excessive illusions and biases. They can fail to find the limits of their knowledge, so they assume less risk. Some succeeded in their efforts, but many failed miserably.

And here is to add to another problem, we go through our daily lives in controlled hallucinations (I borrow this term from Anil Seth) or we would rather call it consciousness. Consciousness can be interpreted as an algorithm – a series of logical cause-and-effect statements. We are actually in a constant hallucination, we seldom interpret reality wrongly.

So if you think that you are always right on every decision you make, think again! Be cautious, be humble my friend.

Simon, Houghton and Aquinoc (2000) https://www.sciencedirect.com/…/artic…/pii/S0883902698000032
Anil Seth (2018) Perception as a controlled hallucination http://www.anilseth.com/podcasts-and-interviews