Lollapalooza effect

What it is

Munger's term for the extreme outcomes that arise when several psychological tendencies push in the same direction at once.

Related

• Social proof bias
  Social proof is a frequent ingredient of lollapalooza effects, such as cults and panics.
• Incentive super-response tendency bias
  Strong incentives combined with other tendencies produce extreme outcomes.
• Reciprocity bias
  Reciprocity is one of the tendencies that can stack with others for extreme effect.
• Association bias bias
  Association is often one of several tendencies stacked in propaganda and marketing.

Appears in

• Munger's 25 standard causes of human misjudgment#25: Lollapalooza tendency

References

• Wikipedia: Lollapalooza effect en.wikipedia.org
• Munger's 25 standard causes of human misjudgment fs.blog
• Wikipedia: List of cognitive biases en.wikipedia.org
• Wikipedia: Cognitive bias codex en.wikipedia.org

More in “The self: ego, emotion and motivated belief”