Tag Archives: psychology

Knowing When to Take a Loss

The Sunk Cost Trap We all try to make rational decisions based on the future value of objects, investments and experiences. But the truth is that our decisions can sometimes be tainted by the emotional investments we have put into them over time. The more we are invested in something, the harder it becomes to abandon it. This is known… Read More »

Get Comfortable Being Emotionally Uncomfortable

The One Simple Rule to Win at Life! People are programmed to pursue physical, psychological, and emotional security and comfort. However, if we give into our natural tendencies to always take the easy route then we won’t have a very meaningful or fulfilling life. That’s why it’s necessary to do what’s emotionally most uncomfortable. So if we want… Read More »

Overconfidence and the Dunning–Kruger effect

Many people are unaware that they are victims of the Dunning-Kruger effect, which is a cognitive bias wherein unskilled individuals suffer from illusory superiority, mistakenly assessing their ability to be much higher than is accurate. Conversely, highly skilled individuals tend to underestimate their relative competence, falsely assuming that tasks which are easy for them are also easy for… Read More »