25 Cognitive Biases
Bias 7 – Kantian Fairness Tendency
14
Mar
Mar
Life isn’t fair, but many can’t accept this. Tolerating a little unfairness should be okay if it means a greater fairness for all. The example Munger uses is letting in other drivers on the freeway knowing they will reciprocate in the future.
Kantian Fairness Tendency
Kant’s “Categorical imperative” or golden rules consists of humans require to follow those behavior patterns that, if followed by all others, would make the surrounding human system work best for everybody.
Super basic but IMPORTANT BIAS!!
Basically following the law of reciprocity, ” treat others the way you want to be treated”
” do to others what you want done to you”
Ex. If I want my clients trust, then I have to invest in them by providing them with SO MUCH value and ROI to their business that they will delightedly pay me more for making THEM MORE! 😀
Be aware and ignore unwanted reciprocity