HomeCognitive BiasesLollapalooza Tendency Bias

Lollapalooza Tendency Bias

Lollapalooza Tendency Bias


Number 23 Of The 25 Cognitive Biases... 

The lollapaloozza tendency is the result of multiple cognitive biases combining together to form an almost irresistible offer or scenario.

Examples Of The Lollapalooza Tendency Bias

Examples of lollapalooza situations include:

  • Auctions
  • Sales
  • Tupperware parties

An auction is the perfect example of the lolapolooza effect, as it incorporates the following biases:

Scarcity bias (there’s only one item and a limited amount of time to bid/buy it)
Social proof bias (there’s other people there interested in purchasing and bidding on the same items as you)
Authority bias (the auctioneer is physically positioned higher than you and is seen as an authority)
Reward bias (the ‘feel good’ moment and dopamine release upon ‘winning’ regardless of whether this comes as a result of paying above market value)

How To Avoid Falling Victim To The Lollapalooza Tendency Bias

Avoid these situations, they're too powerful to overcome.

Want To Know More About Charlie Munger's Cognitive Biases & How To Dominate Life? 

Charlie's almanack

I recently purchased Charlie Munger’s flagship book, Poor Charlie’s Almanack – a book filled with hundreds of pages of wisdom from a billionaire and master of mindset and mental frameworks to improve your life..

This book cost me $65 USD. To most this will seem absurd…

See also
Charlie Munger's 25 Cognitive Biases Speech Summary

“$65 for a book?! What a waste of money”

…these are the same people that spend hundreds of dollars on junk food and alcoholic beverages on Friday and Saturday night.

Delay The Instant Gratification

Don’t adopt the epicurean mentality of “eat, drink and be merry for tomorrow we die.”
You must think long term, you must delay the instant gratification we’re so used to experiencing in this life and invest for tomorrow (stoicism).

“Don’t invest in things that’ll rust, rot or depreciate, invest in things that’ll be worth more later or make you be worth more later”.

The information in this book is worth well over $65 if read and implemented, the information on investing and cognitive biases is worth its weight in gold.

But remember, It’s the application of knowledge that counts, not just the acquisition (read it and take action!)

Check it out and grab your copy of Poor Charlie’s Almanack here.

Scott J.
Scott J.
I’m SJ. I’m a fitness enthusiast and published author. I transformed my body from a skinny fat 135lbs with 18% body fat to a solid 192lbs at 8% body fat. I became qualified in a field I was passionate about. I founded several online businesses that allow me to pursue ideas and projects in my life that I am passionate about without having to constantly worry about money. I published several eBooks explaining the training and dieting techniques I used to achieve the body I have today. I learnt a plethora of new information on dieting and fitness by reading and applying what I read, to find out what does work and what doesn’t work, because as I’m sure you’ve noticed the health and fitness industry is full of non-sense claims and BS. I found out what was true and what worked for me and applied that knowledge. And you bet I had fun during the whole process.

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