<iframe title="Every Psychological Trap Explained in 13 Minutes" src="https://www.youtube.com/embed/MChqrjv4YFI?feature=oembed" height="113" width="200" style="aspect-ratio: 1.76991 / 1; width: 100%; height: 100%;" allowfullscreen="" allow="fullscreen"></iframe> **Duration:** 13:6 **Language:** **Complexity:** **Topics:** # šŸ“’ Personal Notes --- date: 2024-03-20 --- # YouTube ![]() ## Description: -> [Youtube video Link](https://www.youtube.com/embed/MChqrjv4YFI) ## Summary: The video discusses various psychological effects and biases that impact human decision-making and behavior. It explains these concepts with examples and offers tips on how to counter these cognitive biases in everyday life. **Key Points:** - **The Ostrich Effect:** Ignoring negative information or feedback. It suggests regularly reviewing your situation to avoid this bias. - **The Sunk Cost Fallacy:** Continuing an endeavor simply because you've already invested a lot into it, not because it's the best choice now. It recommends making decisions based on future returns rather than past costs. - **The Decoy Effect:** Preferences changing when a third, less attractive option is introduced, illustrating how comparison can influence decisions. Advises evaluating options independently. **Topics/Themes:** - Psychology - Decision-Making - Biases