Sway: The Irresistible Pull of Irrational Behaviour outlines the fact that humans are often prone to some very irrational behaviour that can cloud decision making. My previous post touched on Loss Aversion and the Power of Commitment. This post covers the undercurrents of Value Attribution, and Diagnosis Bias.

Value Attribution

Put simply, Value Attribution describes our tendency to imbue people or objects with certain qualities based on perceived value, rather than on objective data.

A great example of this is the experiment run by the Washington Post featuring violinist Joshua Bell.