50 Cognitive Biases in the Modern World
Cognitive biases are widely accepted as something that makes us human.
Every day, systematic errors in our thought process impact the way we live and work. But in a world where everything we do is changing rapidly—from the way we store information to the way we watch TV—what really classifies as rational thinking?
It’s a question with no right or wrong answer, but to help us decide for ourselves, today’s infographic from TitleMax lists 50 cognitive biases that we may want to become privy to.
In the name of self-awareness, here’s a closer look at three recently discovered biases that we are most prone to exhibiting in the modern world.
AI-infused applications are becoming incredibly good at “personalizing” our content, but will there come a time when we let algorithms make all of our decisions?
Automation bias refers to the tendency to favor the suggestions of automated systems.
Take Netflix, for example. Everything we see on the platform is the result of algorithms—even the preview images that are generated. Then, to harness the power of data and machine learning, Netflix categorizes its content into tens of thousands of micro-genres. Pairing these genre tags with a viewer’s history allows them to assign several of over 2,000 “taste profiles” to each user.
And while there’s nothing wrong with allowing Netflix to guide what we watch, there’s an enormous sea of content standing by. Estimates from 2015 claimed it would take nearly four years to watch all of Netflix’s content. Thousands more hours of content have since been added.
If we want to counter this cognitive bias, finding a new favorite series on platforms like Netflix may require some good old-fashioned human curiosity.
The Google Effect
Also known as “digital amnesia”, the aptly named Google Effect describes our tendency to forget information that can be easily accessed online.
First described in 2011 by Betsy Sparrow (Columbia University) and her colleagues, their paper described the results of several memory experiments involving technology.
In one experiment, participants typed trivia statements into a computer and were later asked to recall them. Half believed the statements were saved, and half believed the statements were erased. The results were significant: participants who assumed they could look up their statements did not make much effort to remember them.
Because search engines are continually available to us, we may often be in a state of not feeling we need to encode the information internally. When we need it, we will look it up.
– Sparrow B, et al. Science 333, 777 (2011)
Our modern brains appear to be re-prioritizing the information we hold onto. Notably, the study doesn’t suggest we’re becoming less intelligent—our ability to learn offline remains the same.
The IKEA Effect
Identified in 2011 by Michael Norton (Harvard Business School) and his colleagues, this cognitive bias refers to our tendency to attach a higher value to things we help create.
Combining the Ikea Effect with other related traits, such as our willingness to pay a premium for customization, is a strategy employed by companies seeking to increase the intrinsic value that we attach to their products.
For instance, American retailer Build-A-Bear Workshop is anchored around creating a highly interactive customer experience. With the help of staff, children (or adults) can assemble their stuffed animals from scratch, then add clothing and accessories at extra cost.
Nike also incorporates this bias into its offering. The footwear company offers a Nike By You line of customizable products, where customers pay a premium to design bespoke shoes with an extensive online configurator.
While there’s nothing necessarily wrong with our susceptibility to the Ikea Effect, understanding its significance may help us make more appropriate decisions as consumers.
What Can We Do?
As we navigate an increasingly complex world, it’s natural for us to unconsciously adopt new patterns of behavior.
Becoming aware of our cognitive biases, and their implications, can help us stay on the right course.
Mapped: Which Countries Have the Worst Air Pollution?
This population-weighted cartogram shows the countries with the worst air pollution, based on fine particulate matter (PM2.5) concentration.
Mapped: Which Countries Have the Worst Air Pollution?
View the high-resolution of the infographic by clicking here.
In many parts of the world, blue skies are a rarity. Instead, accumulated levels of air pollution from industrial processes and motor vehicle traffic cloak cities in smog year-round.
But to what extent does air pollution impact the human population around the world?
To answer this question, data scientist Matt Dzugan has created a cartogram that shades each country based on levels of fine particulate matter (PM2.5) air pollution experienced by the population living there.
First off, let’s talk about the visualization style itself.
Not your everyday map, this unconventional cartogram resizes the borders of countries based on their total populations. In this style, a single square represents 500,000 people. According to Matt Dzugan, the cartogram view is meant to provide a bird’s eye perspective of the impact of air pollution and fine particulate matter (PM2.5) on human lives.
A clear correlation emerges: some of the most inhabited places in the world also experience the most pollution. Highly populated China and India show up the most prominently, while other countries like Australia and Canada seem to disappear off the map entirely.
To put this into perspective, 800 dark brown squares on this cartogram (a PM2.5 concentration of 50 μg/m³) represent 400 million people in India that are exposed to polluted air at levels five times past thresholds set by the World Health Organization.
Top 20 Countries with Cleanest Air
So how do countries on each end of the PM2.5 spectrum shake out? Pulling supplemental data from the WHO, here’s how the top 20 countries with the cleanest air rank.
New Zealand tops the above list. And as you can see, air quality tends to be highest in advanced coastal economies with low population densities—and being an island or bordering less habitable Arctic tundra also helps as well.
That said, there are temporary bouts when air quality can dip in even the best of countries. For example, recent wildfires on the West Coast of the United States and Australia resulted in reddish-orange skies and hazardous levels of air quality for weeks at a time.
The 20 Countries with the Most Air Pollution
On the other hand, it may be surprising that Nepal lands all the way at the bottom of the air quality list. Why is this landlocked country—home to less than 30 million—suffering from hazardous air pollution reaching 100μg/m³?
In short, the emissions from fossil-fuel driven traffic and manufacturing operations are trapped within the Kathmandu valley, which causes air quality issues for people living in the region.
The regions with lower air quality tend to be more landlocked with developing economies, such as some countries in central Africa and Asia, as well as in the Middle East.
Finally, while China is lower on this overall list, it’s worth noting that it is one of the most prominent on the cartogram due to its sheer population size.
Mapped: The Top 30 Most Valuable Real Estate Cities in the U.S.
U.S. real estate value is concentrated in a handful of urban centers. Here’s a look at the top 30 most valuable cities.
The Most Valuable Real Estate Cities in America
According to real estate tycoon Harold Samuel, there are three things that matter when it comes to real estate value—location, location, and location.
America’s property market is no exception to this rule. Depending on the city and its—you guessed it—location, there are vast discrepancies in real estate value across the country.
Usingthe latest data from LendingTree, this graphic ranks the top 30 most valuable real estate cities in America. We’ll also evaluate the top cities based on median value of homes, and how COVID-19 has impacted the market.
The Most Valuable Real Estate Cities
Out of the $32.6 trillion of total real estate value included in LendingTree’s database, the top 30 cities account for almost 57%:
|1||New York||New York||$2,838|
|11||San Jose, Calif.||California||$568|
|25||Charlotte, N.C||North Carolina||$248|
New York has the highest real estate value in the country at $2.8 trillion—that’s around the size of the UK’s GDP in 2019. Close behind is Los Angeles at $2.3 trillion, while San Francisco ranks third at $1.3 trillion.
This may not come as a surprise, considering the popularity of these areas. New York and Los Angeles have the two highest city populations in the U.S., and San Francisco is the second most densely populated city in America (after New York). Historically, these areas have been notorious for their red-hot real estate markets, limited housing supply, and high costs of living.
However, while these cities take the top three spots when it comes to total real estate value, the ranking looks a bit different when comparing the median value of each city.
Most Valuable Cities, by Median Home Value
When it comes to median home value, San Jose claims the top spot at $1.1 million, while San Francisco places second at $959K:
|Rank||City||State||Median Value of a Home|
|7||New York||New York||$501,000|
|18||Salt Lake City||Utah||$312,000|
The Bay Area leads the pack in terms of median value, but San Francisco and San Jose aren’t the only Californian cities to make the list. In fact, half of the top 10 cities are in the Golden State.
It’s important to note that these numbers are from January 2020, before the global pandemic triggered numerous societal and economic changes, including an accelerated migration to the suburbs from key urban centers like New York and San Francisco.
This mass exodus has negatively impacted sales activity. In fall 2020, or example, home sales in New York dropped by 50% compared to last year.
In contrast, places like Honolulu have seen significant growth in home sales—in September 2020, single-family home sales rose by 12.7% compared to last year. Some experts believe COVID has been a key factor driving this growth, as more people are able to work from anywhere, thanks to remote work.
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