Cognitive Bias




Cognitive Bias

We are often presented with situations in life when we need to make a decision with imperfect information, and we unknowingly rely on prejudices or biases. 

Biases lead us to avoid information that may be unwelcome or uncomfortable, rather than investigating the information that could lead us to a more accurate outcome.

For example, we might:

  • Trust someone more if they’re an authority figure than if they’re not
  • Assume someone’s gender based on their profession
  • Make poor decisions based on the information that we’re given
The reasons for our poor decision-making can be a consequence of heuristics and biases.

Types of Cognitive Bias

  • Confirmation BiasConfirmation bias is the tendency to listen more often to information that confirms our existing beliefs. Through this bias, people tend to favor information that reinforces the things they already think or believe.
    For example, imagine that a person holds a belief that left-handed people are more creative than right-handed people
  • Only following people on social media who share your viewpoints.




  • Anchoring Bias.The anchoring effect is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the “anchor”) when making decisions.


  • Availability Heuristic- A heuristic is a mental shortcut that allows people to solve problems and make judgments quickly and efficiently. 

  • Bandwagon Effect. The bandwagon effect refers to the tendency people have to adopt a certain behavior, style, or attitude simply because everyone else is doing it. The more people that adopt a particular trend, the more likely it becomes that other people will also hop on the bandwagon. 


  • Choice-supportive Bias.


  • Fundamental. Attribution Error.- Tendency to overestimate the influence of dispositional factors when judging others.

  • Halo EffectThe halo effect is a type of cognitive bias in which our overall impression of a person influences how we feel and think about their character.
  • Example-just, because that real estate agent was nice, doesn’t mean it’s a good deal)
 


  • .

Lists and Types of Biases: The Codex


According to the Cognitive Bias Codex, there are an estimated 200 cognitive biases

created by John Manoogian III and Buster Benson, this codex is a useful tool for visually representing all of the known biases that exist to date.

The biases are arranged in a circle and can be divided into four quadrants. Each quadrant is dedicated to a specific group of cognitive biases:

  1. What should we remember?
    Biases that affect our memory for people, events, and information

  2. Too much information
    Biases that affect how we perceive certain events and people

  3. Not enough meaning
    Biases that we use when we have too little information and need to fill in the gaps

  4. Need to act fast
    Biases that affect how we make decisions.






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