Have you ever:
• Invested time in something that, with hindsight, just wasn’t worth it?
• Overpayed in an Ebay auction?
• Continued doing something you knew was bad for you?
• Sold stocks too late, or too early?
• Taken credit for success, but blamed failure on external circumstances?
• Backed the wrong horse?
These are examples of cognitive biases, simple errors we all make in our day-to-day thinking. But by knowing what they are and how to spot them, we can avoid them and make better choices-whether dealing with a personal problem or a business negotiation; trying to save money or make money; working out what we do or don’t want in life: and how best to get it.
Simple, clear and always surprising, this indispensable book will change the way you think and transform your decision-making-work, at home, every day. It reveals, in 99 short chapters, the most common errors of judgment, and how to avoid them.
There are many examples which are explained in other texts by other authors. It’s a nice book if you want a detailed description of the cognitive biases. I found this novel to be a little too aggressive mostly the way Dobelli explains “his” point of view, words well executed but not much statistics were shown and maybe that’s the part that dragged for me. It could have been better with facts and numbers that only stories, felt like he was trying to defend something and trying to show the era of communication and technology as the bad guy.