honestly fucking thank you because this is why people get "fired" - hey hAus!
Recency bias is a cognitive bias that leads people to overemphasize recent events or information when making decisions, causing them to give disproportionate weight to fresh experiences over older or historical data. This bias can skew judgments, such as in job interviews where a recent success overshadows a longer track record, or in investing, where a recent market event is seen as an indicator of future trends, leading to irrational conclusions.
Memory & Judgment:Recent events or information are more easily recalled, and this heightened accessibility in memory leads to a perception of greater importance or relevance.
Focus on the Present:The bias shifts focus from a broader, analytical view to a narrow, present-focused perspective, assuming recent occurrences are more indicative of the future.
Performance Evaluations:A manager might be overly influenced by an employee's recent performance, positive or negative, rather than their overall contribution throughout the year.
Investments:An investor might sell a stock after a recent downturn, assuming the market will continue to decline, ignoring the broader historical context of market cycles.
Sports:A commentator might label an athlete the "best ever" due to a recent exceptional performance, overlooking a longer history of better-performing athletes, according to Scribbr.
Poor Decisions:Recency bias can lead to irrational and suboptimal decisions by distorting probabilities and downplaying historical context.
Skewed Perceptions:It can influence overall impressions of people, projects, or situations, creating an inaccurate picture based on limited, recent data.
Broader Context:Consciously consider historical data and long-term trends rather than solely relying on recent experiences.
Awareness:Simply being aware of the existence of recency bias can help individuals recognize and mitigate its influence on their thinking.
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