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In psychology and cognitive science, a memory bias is a cognitive bias that either enhances or impairs the recall of a memory (either the chances that the memory will be recalled at all, or the amount of time it takes for it to be recalled, or both), or that alters the content of a reported memory. There are many types of memory bias, including:
Cognitive bias mitigation and cognitive bias modification are forms of debiasing specifically applicable to cognitive biases and their effects. Reference class forecasting is a method for systematically debiasing estimates and decisions, based on what Daniel Kahneman has dubbed the outside view .
In cognitive science and behavioral economics, loss aversion refers to a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain. [1] [2] It should not be confused with risk aversion, which describes the rational behavior of valuing an uncertain outcome at less than its expected value.
Publication bias is a type of bias with regard to what academic research is likely to be published because of a tendency among researchers and journal editors to prefer some outcomes rather than others (e.g., results showing a significant finding), which leads to a problematic bias in the published literature. [139]
On the other hand, those in collectivistic cultures view each individual in terms of their social role, viewing them as valuable parts of a group. [37] In these contexts, it is normalized to view decision making in terms of what benefits the larger group and aligns with social norms rather than one's own opinion.
[35] [9] Some theorists, like Gilles Gignac and Marcin Zajenkowski, go further and argue that regression toward the mean in combination with other cognitive biases, like the better-than-average effect, can explain most of the empirical findings. [2] [7] [9] This type of explanation is sometimes called "noise plus bias". [15]
When it comes to money, it always helps to take a step back, acknowledge your emotions and weigh the risks and rewards. Hear an expert's take on 8 common mindsets that could be holding you back ...
These problems are called social cognition biases and are even present in those with less severe mental problems. There are many kinds of cognitive biases that affect people in different ways, but all may lead to irrational thinking, judgment, and decision-making. [25]