MBA Psychology 101: Why We Listen To What “capable People” Say

The smarter you are, the more likely you are to be fooled.

Conversation, Negotiation, Data Analysis, Presentations, Marketing

A comprehensive guide to psychological biases for all rational decision-making

Business administration, cognitive psychology, behavioral economics, etc. 101 carefully selected cognitive and emotional biases taught in MBA programs are introduced and explained.

Excellent businesspeople are not swayed by emotions. Covering all the "preconception traps" we all fall into!

[The IKEA Effect] Why are people unable to make logical decisions? [Survivorship Bias] Why do we listen to "competent people"? [Reciprocity] People can't help but give back. [Anchoring] Numbers cling to preconceived notions. [Halo Effect] Illusions motivate people. [The Linda Problem] Probability is counterintuitive. [Jam's Law] Too much information can actually make it difficult to choose. [Endowment Effect] People are overly averse to loss. [Law of Small Numbers] Why do people with proven track records struggle to keep up with the times? [Gambler's Fallacy] Why do people make decisions based on unfounded intuition? [The Linear Instinct] People believe "tomorrow will be the same as yesterday." [Bayesian Probability] Average probability sometimes doesn't work. [Normal Distribution Bias] The "mean" and "median" are different. [Planning Bias] People tend to be overly optimistic.

A must-read for all business professionals looking to make objective decisions.