In this video, you will learn about a concept known as cognitive dissonance.
#cognitivedissonance #decisionmaking #wallstreetmojo #financialmarkets #investing
Chapters:
00:00 – Introduction
00:34 – What is cognitive dissonance?
01:26 – Application in Finance
04:39 – Conclusion
What is cognitive dissonance?
Cognitive dissonance is a situation people may find themselves in. They cannot arrive at a conclusion or take any decision, which causes too much mental stress.
This may be because they may have two or more beliefs in their minds that are conflicting with each other, and that’s what’s stopping them.
(Explained in detail in the video)
Application in Finance
Cognitive dissonance is not just a psychological concept but is also a concept in behavioral finance.
In the video, we discussed three scenarios where investors or traders may fall for cognitive dissonance, hindering their optimal decision-making process.
(Explained in detail in the video)
This was all about cognitive dissonance. Subscribe to the channel if you haven’t already, and don’t forget to like the video.
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