Biases – False Consensus

Biases – False Consensus

I’ve written before about biases. Not only are they fascination, but we all have them and need to be aware of them; not only in investing.

I came across this in Visual Capitalist’s bulletin (I’ll say it again, if you haven’t subscribed to it, do so; it’s fascinating).

biases

False consensus is a new on on me, but one we see frequently. People like to think they’re normal. I suppose its a self-defence tactic.

Certainly we tend to think that others, at least the smart ones, think like we do. I’ve often heard petty criminals defending their action by stating that everyone does the same, or would given the chance. This is demonstrably untrue, but it obviously helps them to mentally defend their actions.

Well, that’s my opinion, so I fully expect you to agree!

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