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Choice-supportive bias or post-purchase rationalization is the tendency to retroactively ascribe positive attributes to an option one has selected and/or to demote the forgone options. [1]
Choice-supportive bias: The tendency to remember one's choices as better than they actually were. [153] Confirmation bias: The tendency to search for, interpret, or recall information in a way that confirms one's beliefs or hypotheses. See also under § Confirmation bias. Conservatism or Regressive bias
The Cognitive Bias Codex. A cognitive bias is a systematic pattern of deviation from norm or rationality in judgment. [1] Individuals create their own "subjective reality" from their perception of the input. An individual's construction of reality, not the objective input, may dictate their behavior in the world.
For example, confirmation bias produces systematic errors in scientific research based on inductive reasoning (the gradual accumulation of supportive evidence). Similarly, a police detective may identify a suspect early in an investigation, but then may only seek confirming rather than disconfirming evidence.
Choice-supportive bias leads to an increased liking of one's choices, including purchases. This seems to contradict the concept of buyer's remorse. However, this choice enhancement can collapse when presented with even minor indication that the wrong choice was made.
In studies of the bias, options are presented in terms of the probability of either losses or gains. While differently expressed, the options described are in effect identical. Gain and loss are defined in the scenario as descriptions of outcomes, for example, lives lost or saved, patients treated or not treated, monetary gains or losses. [2]
A survey using a Likert style response set. This is one example of a type of survey that can be highly vulnerable to the effects of response bias. Response bias is a general term for a wide range of tendencies for participants to respond inaccurately or falsely to questions.
The bias blind spot is the cognitive bias of recognizing the impact of biases on the judgment of others, while failing to see the impact of biases on one's own judgment. [1] The term was created by Emily Pronin, a social psychologist from Princeton University 's Department of Psychology , with colleagues Daniel Lin and Lee Ross .