How a Judge Literally Rolling Dice Could Get You Double The Jail Time - The Anchoring Effect

The Science of Success

Matt Bodnar

Self-improvement, Social Sciences, Business, Science, Entrepreneurship, Education

4.6 • 1.1K Ratings

🗓️ 20 July 2016

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode we are going to talk about how random dice rolls can influence judges to give people longer jail sentences, how so-called experts are massively influenced by completely random numbers – even when they explicitly deny it – and how you can better understand this crazy phenomenon – the Anchoring Effect. As Nobel Laureate Daniel Kahneman puts it in his book Thinking Fast and Slow: "The main moral of priming research is that our thoughts and our behavior are influenced, much more than we know or want, by the environment of the moment." Arbitrary numbers and anchors can have huge implications for your decisions without you even realizing it and this all operates at a subconscious level beyond your conscious experience. This episode is going to focus on drilling down and understanding a specific cognitive bias – a mental model – to help you start building a toolkit of mental models that will enable you to better understand reality. Anchoring bias – along with Priming and Framing, which we have covered in previous episodes – are all cognitive biases that you want to know, understand, and be aware of – so that you can add them to your mental toolbox and make better decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Welcome to the Science of Success with your host, Matt Bonner.
0:11.0	Welcome to the Science of Success.
0:14.0	I'm your host, Matt Bodner.
0:16.1	I'm an entrepreneur and investor in Nashville, Tennessee,
0:18.8	and I'm obsessed with the mindset of success
0:21.6	and the psychology of performance.
0:23.8	I've read hundreds of books, conducted countless hours of research and study, and I'm going to take
0:28.4	you on a journey into the human mind and what makes peak performers tick, with a focus on always having our discussions
0:35.0	rooted in psychological research and scientific fact, not opinion.
0:40.4	In this episode, we're going to talk about how random dice rolls can influence judges into giving people longer jail sentences.
0:49.0	How so-called experts are massively influenced by completely random numbers even when they
0:54.8	explicitly deny it and how you can better understand this crazy
0:59.3	phenomenon or what we call the anchoring bias.
1:04.0	Because the science of success keeps on growing, with nearly 450,000 downloads,
1:09.0	listeners in over 100 countries hitting number one new and noteworthy and much more. I'm giving away
1:15.5	something awesome to my listeners every single month. This month I'm giving away
1:19.9	another $100 Amazon gift card to one lucky listener.
1:23.9	We're gonna give it away on the next episode.
1:25.8	So make sure that you text the word smarter,
1:28.5	that's SM, AR, T-E-R, to the number 4-422 to be entered to win.
1:33.0	Or you can go to our website,
1:35.0	Science of Success. co, that's Science of Success. co,
	...

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