How Did P.T. Barnum Trick Millions of People? | Understanding Cognitive Biases
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What do P.T. Barnum, psychics, and Elizabeth Holmes have in common? They all rely on making vague statements that we think apply to us specifically, in a phenomenon called the Forer Effect or Barnum Effect. Learn about its origins and the most famous con artists who used it in this, the first part of a two-part video. Afterward, be sure to watch the second part (and learn how not to get conned) by clicking the button at the end of this video or following the link below.
https://youtu.be/uWvA7pxtqhA
This video is from the series Understanding Cognitive Biases, presented by Alexander B. Swan
To learn more about cognitive biases, visit http://www.wondrium.com
00:00 Why Do People Fall for the Barnum Effect?
03:26 P.T. Barnum and the Origin of the Barnum Effect
06:03 How Elizabeth Holmes Used the Barnum Effect
08:52 How Con Artists Employ Their Tricks
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