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Get the paperbacks or the FREE audiobooks with the links below: Buy the Books on Amazon US - Art of Thinking Clearly - https://amzn.to/2Kv1jZi Thinking Fast and Slow - https://amzn.to/3nUiT79 Freakonomics - https://amzn.to/38HmSxy Buy the Books on Amazon India - Art of Thinking Clearly - https://amzn.to/3ptMp4m Thinking Fast and Slow - https://amzn.to/3mLx516 Freakonomics - https://amzn.to/37Rig8T The ultimate list of cognitive biases part 1 - https://mycognitivebiases.com/ultimat... Timestamps Intro - 00:00 Definition - 00:02 Example - 00:18 Outro - 00:43 ------------------------------------------ What is Overjustification effect? Definition: The overjustification effect occurs when an expected external incentive such as money or prizes decreases a person’s intrinsic motivation to perform a task. Overjustification is an explanation for the phenomenon known as motivational “crowding out.” Example: Empirical evidence shows that expected financial rewards “crowd out intrinsic motivation, while the size of the monetary reward simultaneously provides extrinsic motivation. If the size of the monetary reward is not large enough to compensate for the loss of intrinsic motivation, overall engagement can decline. More on mycognitivebiases.com ------------------------------------------ What are Cognitive Biases? A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them and affects the decisions and judgments that they make. ------------------------------------------ Note: The above links are affiliate links, we get a small cut if you buy anything from the above links which in turn goes towards helping us provide you with helpful content like this. Support us by using the links above. #cognitivebias #cognitivebiases #mycognitivebiases #cognitivescience