Every Single Cognitive Bias in One Infographic
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Every Single Cognitive Bias in One Infographic

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Cognitive Bias Infographic

Every Single Cognitive Bias in One Infographic

View the high resolution version of today’s graphic by clicking here.

The human brain is capable of incredible things, but it’s also extremely flawed at times.

Science has shown that we tend to make all sorts of mental mistakes, called “cognitive biases”, that can affect both our thinking and actions. These biases can lead to us extrapolating information from the wrong sources, seeking to confirm existing beliefs, or failing to remember events the way they actually happened!

To be sure, this is all part of being human—but such cognitive biases can also have a profound effect on our endeavors, investments, and life in general.

For this reason, today’s infographic from DesignHacks.co is particularly handy. It shows and groups each of the 188 known confirmation biases in existence.

What is a Cognitive Bias?

Humans have a tendency to think in particular ways that can lead to systematic deviations from making rational judgments.

These tendencies usually arise from:

  • Information processing shortcuts
  • The limited processing ability of the brain
  • Emotional and moral motivations
  • Distortions in storing and retrieving memories
  • Social influence

Cognitive biases have been studied for decades by academics in the fields of cognitive science, social psychology, and behavioral economics, but they are especially relevant in today’s information-packed world. They influence the way we think and act, and such irrational mental shortcuts can lead to all kinds of problems in entrepreneurship, investing, or management.

Cognitive Bias Examples

Here are five examples of how these types of biases can affect people in the business world:

1. Familiarity Bias: An investor puts her money in “what she knows”, rather than seeking the obvious benefits from portfolio diversification. Just because a certain type of industry or security is familiar doesn’t make it the logical selection.

2. Self-Attribution Bias: An entrepreneur overly attributes his company’s success to himself, rather than other factors (team, luck, industry trends). When things go bad, he blames these external factors for derailing his progress.

3. Anchoring Bias: An employee in a salary negotiation is too dependent on the first number mentioned in the negotiations, rather than rationally examining a range of options.

4. Survivorship Bias: Entrepreneurship looks easy, because there are so many successful entrepreneurs out there. However, this is a cognitive bias: the successful entrepreneurs are the ones still around, while the millions who failed went and did other things.

5. Gambler’s Fallacy: A venture capitalist sees a portfolio company rise and rise in value after its IPO, far behind what he initially thought possible. Instead of holding on to a winner and rationally evaluating the possibility that appreciation could still continue, he dumps the stock to lock in the existing gains.

This post was first published in 2017. We have since updated it, adding in new content for 2021.

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Misc

Visualizing the Odds of Dying from Various Accidents

This infographic shows you the odds of dying from a variety of accidents, including car crashes, bee stings, and more.

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Infographic: The Odds of Dying from Various Accidents

Fatal accidents account for a significant number of deaths in the U.S. every year. For example, nearly 43,000 Americans died in traffic accidents in 2021.

Without the right context, however, it can be difficult to properly interpret these figures.

To help you understand your chances, we’ve compiled data from the National Safety Council, and visualized the lifetime odds of dying from various accidents.

Data and Methodology

The lifetime odds presented in this graphic were estimated by dividing the one-year odds of dying by the life expectancy of a person born in 2020 (77 years).

Additionally, these numbers are based on data from the U.S., and likely differ in other countries.

Type of AccidentLifetime odds of dying (1 in #)
Motor vehicle accident101
Complications of medical and surgical care798
Alcohol poisoning1,606
Accidental building fire1,825
Choking on food2,745
Drowning in swimming pool5,782
Sunstroke6,368
Accidental firearm discharge7,998
Drowning10,386
Airplane accident11,756
Bee or wasp sting57,825
Dog attack69,016
Lightning strike138,849

For comparison’s sake, the odds of winning the Powerball jackpot are 1 in 292,000,000. In other words, you are 4000x more likely to die by a lightning strike over your lifetime than to win the Powerball lottery.

Continue reading below for further context on some of these accidents.

Motor Vehicle Accidents

Motor vehicle accidents are a leading cause of accidental deaths in the U.S., with a 1 in 101 chance of dying. This is quite a common way of dying, especially when compared to something like bee stings (1 in 57,825).

Unfortunately, a major cause of vehicle deaths is impaired driving. The CDC reports that 32 Americans are killed every day in crashes involving alcohol, which equates to one death every 45 minutes.

For further context, consider this: 30% of all traffic-related deaths in 2020 involved alcohol-impaired drivers.

Drowning

The odds of drowning in a swimming pool (1 in 5,782) are significantly higher than those of drowning in general (1 in 10,386). According to the CDC, there are 4,000 fatal drownings every year, which works out to 11 deaths per day.

Drowning also happens to be a leading cause of death for children. It is the leading cause for kids aged 1-4, and second highest cause for kids aged 5-14.

A rather surprising fact about drowning is that 80% of fatalities are male. This has been attributed to higher rates of alcohol use and risk-taking behaviors.

Accidental Firearm Discharge

Lastly, let’s look at accidental firearm deaths, which have lifetime odds of 1 in 7,998. That’s higher than the odds of drowning (general), as well as dying in an airplane accident.

This shouldn’t come as a major surprise, since the U.S. has the highest rates of gun ownership in the world. More importantly, these odds highlight the importance of properly securing one’s firearms, as well as learning safe handling practices.

As a percentage of total gun-related deaths (45,222 in 2020), accidental shootings represent a tiny 1%. The two leading causes are suicide (54%) and homicide (43%).

Interested in learning more about death? Revisit one of our most popular posts of all time: Visualizing the History of Pandemics.

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