Overview: Survivorship Bias | ||
Type | ||
Definition | A rational argument or thought process that only focuses on the survivors or winners of a particular situation. | |
Related Concepts |
What is Survivorship Bias? John Spacey, updated on
Survivorship bias is a fallacy or cognitive bias that only includes survivors in an analysis or argument. The classic example is to calculate historical stock returns by looking at companies that have survived to the present day and excluding the firms that may have gone bankrupt over the years.
It is considered a bit of a tricky bias that can be difficult to detect in data. For example, a 1987 study suggested that cats are more likely to survive falling from the sixth story and higher than lower floors. The study failed to consider that most cats falling from higher floors were not included in veterinary data because they had died and were not brought to the vet.Survivorship bias also arises in everyday thought processes. A young basketball player who aspires to be a professional may read the biography of a star such as Michael Jordan to see what he did to build exceptional skills. Such an analysis excludes the stories of countless athletes who had similar ambitions, exerted great effort but didn't make the NBA.
Cognitive BiasesThis is the complete list of articles we have written about cognitive biases.If you enjoyed this page, please consider bookmarking Simplicable.
Cognitive BiasesA list of common cognitive biases explained.Curse Of Knowledge
Why experts have trouble communicating.
Optimism Bias
An overview of optimism bias, including its surprising benefits.
Decoy Effect
A cognitive bias that is well known in marketing circles.
Biases vs Heuristics
The difference between biases and heuristics.
Information Cascade
A definition of information cascade with examples.
Functional Fixedness
A definition of functional fixedness with examples.
Boil The Frog
A definition of boil the frog, with examples.
Anecdotal Evidence
The definition of anecdotal evidence with examples.
Scientism
The definition of scientism with examples.
Thought ProcessesA list of thinking approaches and types.LogicA few logic terms explained.Abstract Ideas
A few dangers of being too abstract.
Objective vs Subjective
The difference between objective and subjective.
Intellectual DiversityA definition of intellectual diversity with examples.Creative ValueThe definition of creative value with examples.Benefit Of Doubt
The definition of benefit of doubt with examples.
Pessimism
The definition of pessimism with examples.
TrendingThe most popular articles on Simplicable in the past day.New ArticlesRecent posts or updates on Simplicable. Site Map
© 2010-2024 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited. View credits & copyrights or citation information for this page. |