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Also known as current moment bias or present bias, and related to Dynamic inconsistency. A good example of this is a study showed that when making food choices for the coming week, 74% of participants chose fruit, whereas when the food choice was for the current day, 70% chose chocolate.
Sensemaking or sense-making is the process by which people give meaning to their collective experiences. It has been defined as "the ongoing retrospective development of plausible images that rationalize what people are doing" ( Weick, Sutcliffe, & Obstfeld, 2005, p. 409 ).
In other words, a process that determines the degree to which mood can affect our judgement. According to the AIM, affect (mood and emotion) exerts a notable influence not only on information processing but on the resulting response behaviors as well.
Chronological snobbery – a thesis is deemed incorrect because it was commonly held when something else, known to be false, was also commonly held. [100] [101] Fallacy of relative privation (also known as "appeal to worse problems" or "not as bad as") – dismissing an argument or complaint due to what are perceived to be more important problems.
The sense-making process is triggered by an initial surprise. If the sense-making process is not complete and the sensory information is not detected or coded [by the individual], the sensation is experienced as a surprise and the hindsight bias has a gradual reduction.
A continually evolving list of cognitive biases has been identified over the last six decades of research on human judgment and decision-making in cognitive science, social psychology, and behavioral economics. The study of cognitive biases has practical implications for areas including clinical judgment, entrepreneurship, finance, and management.
There are more sophisticated judgment strategies that result in fewer errors. People often reason based on availability but sometimes they look for other, more accurate, information to make judgments. [32] This suggests there are two ways of thinking, known as the Dual-Process Model. [33]
In information science, the term is often written as "sense-making". In both cases, the concept has been used to bring together insights drawn from philosophy, sociology, and cognitive science (especially social psychology). Sensemaking research is therefore often presented as an interdisciplinary research programme.