The SPOT Effect

Psychologists uncover a new self-serving bias – if it’s my theory, it must be true

If you look at the research literature on self-serving biases, it’s little surprise that critical thinking – much needed in today’s world – is such a challenge. Consider three human biases that you may already have heard of: most of us think we’re better than average at most things (also known as illusory superiority or the Lake Wobegon Effect); we’re also prone to “confirmation bias”, which is favouring evidence that supports our existing views; and we’re also susceptible to the “endowment effect” which describes the extra value we place on things, just as soon as they are ours. ….[READ]

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