This is a very interesting chart.
It breaks down the way we process information into four categories of biases.
- Too much information,
- Not enough meaning,
- Need to act fast, and
- What should we remember.
It’s worth a look.
These sorts of findings are often used to cast doubt on our rationality. E.g., “we think we’re rational, but look at all these irrational things we do.”
While that’s fair to a point, I think there’s another side to it. We also have to recognize that these things developed for a reason. These biases were selected because they helped us get along in a big, confusing world. So, while we should bear in mind that we have biases, we should also have some level of respect for the practical utility of those biases.