May 31

21st Century Living

Friday’s Big Idea

Social Comparison Bias

One of the reasons why it is so difficult to assess ourselves is social comparison bias, that is, the tendency to evaluate ourselves based on how well our peers are doing.

In today's lesson, Francesca Gino demonstrates how this bias can cause us to make decisions such as accepting a job that pays less money, just because of the way we see ourselves in relation to our peers.

So how can we break out of this habit of mind? While we compare ourselves to others just about every moment of every day, Gino argues that we need to always ask questions about the type of information we are using when we make important decisions. 

  1. 1 How Social Comparisons Cloud Our ...
  2. 2 Why We Make Bad Decisions About M...
  3. 3 Define Your Own Success
  4. 4 The Pervasive Threat of Conformit...
   
  1. How Social Comparisons Cloud Our Thinking

    How Social Comparisons Cloud Our Thinking

    It is more important for us to know that we are faring well in comparison to our peers than it is for us to ensure that we do better for ourselves. 

    Read More…
  2. Why We Make Bad Decisions About Money (And What We Can Do About It)

    Why We Make Bad Decisions About Money (And What We Can Do About It)

    Ever wondered what you were thinking after making a bad decision? Daniel Kahneman explains.

    Read More…
  3. Define Your Own Success

    Define Your Own Success

    Robert Kaplan explains how success is not about meeting someone else's definition of success, but defining it on your own terms.

    Read More…
  4. The Pervasive Threat of Conformity: Peer Pressure Is Here to Stay

    The Pervasive Threat of Conformity: Peer Pressure Is Here to Stay

    The Asch effect has been replicated successfully numerous times, in a variety of contexts, and each time, peer pressure glows strong. 

    Read More…