Weekend Wrap-up #07 - Are we ready to level up?

So I am stilling waiting to write about the Olympics - call me superstitious but I don’t want to jinx any of our open medal chances.

What I am going to cover instead is Mumbai’s move up to Level 2 and how behavioural science can help me explain my concern on how we are likely to misuse this unlockdown.

Action Bias

Our tendency to respond with action as a default, automatic reaction, even without solid rationale to support it, has been termed the action bias.

Are we going to again see hoards out there only because they can now… will we choose to use the relaxations to step out without reason or will we continue to exercise caution. Thee action bias may just favour the former.

Bandwagon Effect

This refers to our habit of adopting certain behaviors or beliefs because many other people do the same.

So if there are those who don’t immediately rush out without cause - this bias is likely to give them just the push they need.

Decision Fatigue

It describes how our decision-making gets worse as we make additional choices and our abilities get worn out.

Many of us have been stuck indoors since March 2020. Time after time we are choosing to be safe and staying indoors unless absolutely necessary. Can decision fatigue push us into some ineffective choices now?

Regret Aversion

This occurs when a decision is made to avoid regretting an alternative decision in the future.

Will the possibility of a third wave push us to make the most of this relief before we are forced back indoors. Not wanting to regret not using the little freedom that has come our way.

There could be reasons and explanations why this is a great move…And while I am all for moving forward… For now I’m just a tad worried about what the next few months have in store for us.

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I am sharing my posting schedule herewith... do look out for topics that might interest you:

Tuesday: Regular posts under Intriguing Insights and Inexplicable Influences

Thursday: To BE or not to BE - Behavioural Economic (BE) terms and their popular explanations or definitions.

Sunday: Weekend Wrap-up where I select an event or incident from the week that was and analyse some aspect of it.

Last Saturday of every month: My monthly post in the Intellectual Imprints section