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.