6 Matching Annotations
  1. Oct 2021
    1. employers have been able to nudge employees into contributing to retirement plans by making saving the default option; you have to actively take steps in order to not participate. That is, laziness or inertia can be more powerful than bias.

      Since bias is virtually impossible to stop for any given individual, companies have utilized other methods to get people to make statistically correct decisions. It's incredible how bias impacts each and every person. Even people, myself included that feel good about being unbiased still have bias. Since bias is so subconscious and difficult to remove, it makes me wonder just how biased I really am. When I look at issues I try to view them from multiple angles and make a well-rounded, logical conclusion. Yet I wonder how "well-rounded" that conclusion really is due to potential bias in the research, as well as just confirmation bias in general.

    2. The gambler’s fallacy makes us absolutely certain that, if a coin has landed heads up five times in a row, it’s more likely to land tails up the sixth time. In fact, the odds are still 50-50. Optimism bias leads us to consistently underestimate the costs and the duration of basically every project we undertake.

      We as people are unavailable to avoid bias, it is so prevalent that it can impact just about every decision or thought we have. We may attach meaning to something that otherwise doesn't due to a perceived trend or make decisions based on personal anecdotes, which don't always translate to be statistically true. Since we live in the world through our own lens, it's difficult to see things from every angle, resulting in these types of biases consistently occurring.

    3. Present bias shows up not just in experiments, of course, but in the real world. Especially in the United States, people egregiously undersave for retirement—even when they make enough money to not spend their whole paycheck on expenses

      It's important to gain perspective on our lives as a whole as it is quite easy to be blinded by the present. People tend to have a "right now" sort of mentality that can lead to potential consequences in the future. In this particular case, people fail to recognize the future and end up putting themselves into difficult situations that were entirely avoidable.

  2. Sep 2021
    1. Nationalist parties, for their part, will take advantage of citizens’ vulnerabilities and insecurities, using immigrants as scapegoats and exploiting their role as opposition parties unburdened by national crisis management.

      As a result of the pandemic, new life circumstances have been placed on everyone around the globe. Restrictions such as lockdown have created frustration and issues for many citizens, businesses, and governments. This results in certain individuals and parties assigning blame to things that might not actually be a cause for the issues occurring, further complicating the way the pandemic is managed.

    2. Faced with the difficult task of making life-and-death health decisions in an era of high uncertainty given the novelty of the virus, most governments set up teams of health advisors whose counsel partly shielded them from criticism.

      A new political development has risen due to the COVID-19 pandemic. Now that doctors and health experts have become part of the team helping the government, varying beliefs have been presented regarding the best way to handle the pandemic. This results in new issues being debated among voters and governments, sometimes with ambiguous answers due to the uncertain nature of the pandemic.

    3. lockdown, elections have been modified, postponed, and canceled in light of the health risk posed by the pandemic.1

      Obviously nobody could anticipate the COVID-19 pandemic. That being said, it created challenges in ensuring democratic systems function properly. With these types of things happening to elections, it runs the risk of damaging the integrity of the governments that are hosting said elections.