Fallacy Follies, Volume 3

hey there it’s David H Lawrence the 17th
got more fallacies for you today these
are really interesting because you kind
of feel a little embarrassed when you
realize that you’re you’re falling prey
to them nah not that bad but you just
kind of look at him go really seriously
and the first one I want to talk to you
about by the way will do three in this
video and then I’ve got two final ones
I’ll have fallacies right got two final
ones that I’ll do in the next video but
the first one I want to talk to you
about is called the IKEA fallacy and
what it is basically is you tend to
value things more when you’ve had a hand
in them so and it doesn’t matter what
that hand is I mean I fell prey to this
when I was very lightly involved in a
movie called you’ve got mail and it was
Tom Hanks and hmm I can’t remember her
name I’m so sorry
you’ll look it up you’ll figure it out
but anyway it was about people who got
together online it was a mid 90s late
90s and I had a very small role to play
I did some promotion stuff for them and
it was an okay movie you know it wasn’t
Tom Hanks best work but it was an okay
movie I on the other hand thought it was
the most amazing movie ever because I
had a small part to play in it in the
IKEA fallacy you tend to value things
that you’ve had a part creating or a
part even when it’s not even when it’s
not warranted you know crowdfunding and
crowdsourcing tends to do that to people
they go oh I I really like this product
even though there’s a better product or
service that’s not something that you
were involved with so that’s the IKEA
fallacy
it’s called IKEA because people who go
to Ikea tend to really valuable they
value their furniture because member
sunk costs yeah they put all that time
and effort into building that bookcase
or building that bed or
whatever they bought at IKEA and so it’s
great because they had a hand in doing
it so that’s the IKEA fallacy
then there’s the hindsight fallacy and
these last two fallacies are actually
related but they’re they’re different
and the indifference is important the
hindsight fallacy is our tendency to
look at things that have happened in the
past as something we could have
predicted you know I knew it all along
but we didn’t but we could have but we
didn’t but we could have
but we didn’t but we could have we
oversimplify those things in terms of
cause and effect because hey we should
have known better right we should have
known that that was gonna happen and I
don’t want to be embarrassed in thinking
I didn’t know that that was gonna happen
cuz that’s kind of obvious in hindsight
that’s why it’s called the hindsight
fallacy right so when you look back at
something and you go yeah well any dummy
could have known that so think about how
it effects your decision-making when
dealing with similar issues that are
current or in the future and then kind
of akin to that but different than that
is the choice supportive fallacy and the
choice supportive fallacy isn’t I would
anybody would have known that I could
have known that but you did know that
and so because you did know something
about that situation the choice that you
made there is the choice that you may
make in the future even though it’s not
the best one right we will promote and
give value to the choices we made that
turned out to be good and I mean a
simple example of this is you know you
flip a coin and you think while it’s in
the air that’s gonna be heads and it was
heads well would you say in the future
if you flip the coin that you should go
with heads I mean there are people that
believe heads come up more often than
tails which is kind of nutty but yeah
you know so we promote our choices and
on the opposite side we tend to minimize
or negate or poopoo or you know
castigate those choices that we didn’t
make and who would make that choice
really come on now because you made the
other choice right and usually it’s
binary choices involved here but it
could be more than more than two choices
so there you go you got the idea fallacy
let people value things that they’ve
been involved with more than they might
otherwise the hindsight fallacy Oh
anybody would have known that of course
I yeah absolutely and then the choice
supportive fallacy well I picked this
before so I’m gonna pick this again
right
so those are the three family two more
in the next video it’s like I like
collecting these things when I was a kid
my dad was a was a truck driver and one
of the things that I remember that was
nice about him being a truck driver is
he would go out on the road he was an
over-the-road truck driver you be gone
for three or four days at a time and
when he would stop at rest stops or
diners to eat he would ask the waitress
for a clean you know paper placemat
right they always had paper place mats
with goofy stuff on it you know there
were puzzles or there was you know the
local you know something about the
restaurant maybe it was the menu of the
restaurant anyway and he would bring
them home and he was careful not to fold
them and I collected them I remember
having books filled with these these
placemats
now I’m not collecting placemats now I’m
collecting fallacies okay if you can
remember when any of these three
fallacies played a role in something you
had to deal with or maybe you identify
with that oh yeah I really think my my
my bookcase my couch my way I put it
together myself so it’s really good you
know I don’t know I don’t wait but if
there’s something that you’d like to
comment on I’d love for you to make a
comment below if you’re watching
anywhere but on video to go go comm go
over there and make the comment because
over there
it’s sane and nice I just saw a youtube
video that had hundreds of comments and
man talk about not montón not one of
mine another one and I was thinking wow
this is like this is like a magnet for
haters and I you know I’m so glad that I
sort of steer people away from that over
to the the vo to gogo website you know
so you know go there the the
conversation is saying and moderated if
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YouTube will play it for you I’m David H
Lawrence – 17 thank you so much for
watching and I’ll talk to you tomorrow.