We all make decisions every day, whether consciously or subconsciously. Some are easy, while others confuse and overwhelm us with the possibilities and choices available. Sometimes, we make choices that we later regret and wonder why we even made them in the first place. The answer to this dilemma lies in our cognitive biases and heuristics. They guide and shape our thinking, often without us realizing it, resulting in irrational and sometimes detrimental choices.

Heuristics are mental shortcuts or "rules of thumb" that our brains use to simplify decision-making. They speed up the process of finding a satisfactory solution, particularly under conditions of uncertainty or limited information.

While heuristics can be incredibly useful, they can also lead to cognitive biases.

Cognitive Biases are systematic errors in thinking that affect the decisions and judgments that people make. These biases often work because of our brain's attempt to simplify information processing. They are a by-product of our brain's use of heuristics. Unlike heuristics, which are intentionally used shortcuts, biases typically operate unconsciously and can lead to faulty decisions.

For example, "confirmation bias" is a cognitive bias where people tend to seek out and favor information that confirms their pre-existing beliefs, while ignoring contradictory information.

So, the key difference here is that heuristics are mental shortcuts used to speed up decision making, while biases are the negative side effects of those shortcuts that can skew our thinking and decision-making processes.

Here are a few Examples of Heuristics:

B - Best Guess Heuristic

A - Availability Heuristic

C - Consistency Heuristic

O - Occam's Razor Heuristic

N - Novelty Heuristic

Here are a few Examples of Biases:

B - Bandwagon Effect

A - Anchoring Bias

C - Confirmation Bias

O - Overconfidence Bias

N - Negativity Bias

What if there was a way to control our biases and make better decisions, leading to a happier life? A little BACON may do just the trick.

B – Be aware of your biases

A – Analyze the information

C – Consider the context

O – Overcome your biases

N – Navigate the outcome

Our cognitive biases and heuristics shape our thinking, often without us realizing it. We can take control of our biases by being aware of them, analyzing information, considering the context, overcoming them, and navigating the outcome. By doing so, we can make better decisions, leading to a happier life.

As a simple exercise, we can reflect on our past decisions and identify the biases that influenced them. We can then use the B.A.C.O.N. method to make better choices in the future. Let us take control of our biases, one decision at a time, and enjoy the happiness that follows.

“When dealing with people, remember you are not dealing with creatures of logic, but with creatures bristling with prejudice and motivated by pride and vanity.”

– Dale Carnegie, How to Win Friends and Influence People

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