In this episode, we’re taking a look at error in thinking #12! Warren Buffet’s business partner, Charlie Munger, gave a speech outlining a number of cognitive biases they avoid to gain and maintain their wealth. It’s definitely worth considering!

The twelfth error in thinking we'll examine is "Defensive Attribution". Listen to find out what it is and how we can guard against this error in thinking. It's worth your consideration. Take a listen!

Error in Thinking #12: Defensive Attribution

Basically, when a witness relates to a victim, they will blame the victim less and the attacker more.

It’s rooted in the witnesses' fear that something similar could happen to them.

For example, Sarah loses her money in what she knows is a pyramid scheme, because she is desperate and needs to make more money ASAP.

William, who is also experiencing hard times financially, aggressively attacks the company that offered the opportunity and consoles Sarah.

So, what do you do with this information?

To overcome defensive attribution, we have to take a step back and objectively look at the situation.

More than likely, there will be an emotional charge connected to the situation, and that should be the first cue to step back.

One of the first steps to address a cognitive bias is to be aware that it exists.

When the witness steps back, they can clearly see the role both parties played and avoid absolving the victim of any reasonable responsibility.

An identifying thought is, “That could’ve been me… or my family member!”

We should also remember that we live in a world where random things happen.

We have to get comfortable being uncomfortable.

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