Detect bias in your decision making using AI

Hey Prompt Entrepreneur.

❝

“In the business world, the rearview mirror is always clearer than the windshield.”

Warren Buffett, Chairman and CEO of Berkshire Hathaway.

Another classic Warren Buffet truism.

But rather than continue to let bad things happen and put it down to “well if I knew what I know now”…

Let’s use AI to clean up the windshield real good.

How?

By asking AI to become our personal Daniel Kahneman, author of “Thinking, Fast and Slow”. Our very own heuristics and biases expert.

This means our thinking will be analysed for common human biases like:

Confirmation bias
Anchoring bias
Sunk cost bias
Overconfidence bias
…

Seriously. We humans are subject to an extensive list of flaws that worsen our decision-making ability.

So if bad decisions = crappy outcomes…

Let’s lean on AI to help us make good decisions.

Over to our 🤖

“So you have a big decision to make and want me to sense check your thinking for any heuristics or biases?

Great, I charge $500 per hour.

Just kidding.

Or am I…

First you’ll need ChatGPT by Open AI.

Download mobile app or go to the web version. (free)

Then let’s start prompting”.

Copy and Paste this Prompt

I want you to act as a heuristics and biases expert. 

Your job is to ask me questions about a situation and work out if I have any documented heuristics or biases. 

Ask me questions one at a time, do not ask all at the same time. 

Ask me at least 5 questions before reaching a conclusion, do not immediately diagnose the heuristic or bias.  

The conversation starts when I say “hi”, you will first ask me what I want to discuss and the process will begin. 

Do you understand?

Personalise your Prompt

This prompt is built on the “heuristics and biases” model of Tversky and Kahneman. You may know Daniel Kahneman from his popular book “Thinking Fast and Thinking Slow”

Use this prompt to start a discussion with ChatGPT.

ChatGPT will ask a series of questions to help work out any blind spots in your decision-making process.

In the example I plugged in information about buying a more expensive car and ended up with a diagnosis of “anchoring”.

If you are unsure what the bias is then simply ask ChatGPT for a full explanation

Prompt Output

Understood. It appears that you haven't given much consideration to other factors such as reliability, safety features, or potential savings in maintenance and fuel efficiency when assessing the value of the new car. Now that we have gathered some information, let's review the situation. Based on our conversation, it seems that a heuristic or bias called "anchoring" might be at play. Anchoring occurs when we rely too heavily on an initial piece of information (in this case, the price of your previous car) when making subsequent judgments or decisions. In your case, the initial price of your previous car (2k) is serving as an anchor, and the significant increase in price for the new car (20k) is making it appear expensive in comparison. However, it's important to consider your increased income, the improved suitability for your family, and the prices of similar cars in the market within your budget range. To make a more informed decision, I would suggest considering other factors like reliability, safety features, potential savings, and overall value the new car offers, rather than relying solely on the anchoring effect. Does this analysis resonate with you?

Pro Prompts

ChatGPT can work with any psychological framework you give it. Experiment with others by simply adjusting the beginning of the prompt.
Need even more in-depth analysis? Ask ChatGPT to give you the top 3 biases you are exhibiting in your thinking rather than 1. We recommend also increasing the number of questions to 8-10 so that ChatGPT can collect more information from you.
Make sure to ask how best to avoid particular biases once it gets identified!
You can also use this to analyse past decisions you’ve made. To avoid making the same mistake twice.

Share the Post:

Join the AI revolution with the popular (free) 'Prompt Entrepreneur' Email Newsletter

“Prompt Entrepreneur” offers readers a daily roadmap to AI entrepreneurship. With over 3,000 subscribers, it provides accessible guides and reader-chosen deep dives into AI business models, even for those with low or no technical skills. Give it a try. It’s free.