Conservatism
Also known as Conservatism bias
The tendency to revise our beliefs too little when we get new evidence. We favor our earlier view and adjust it only slightly, even when the new information should change it a lot. The term has nothing to do with politics.
In everyday life
An investor who thought a company was strong reads several bad earnings reports but only slightly lowers their forecast.
After several references describe serious problems with a job candidate you liked at first, you lower your rating of them by just one notch.
Why your mind does this
Our senses and judgment work by comparison. Noticing differences from a starting point, or from what came just before, is faster and cheaper than measuring things in absolute terms, and changes are often what signal danger or opportunity.
Its family, in 30 seconds: Change
How to spot it
Ask yourself how much your view actually moved after the last surprising piece of evidence, and whether that matches how strong the evidence was.
How to counter it
Before new data arrives, decide how much a given result would change your mind, then follow through when it comes.