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Cognitive biases are systematic patterns of deviation from norm and/or rationality in judgment. They are often studied in psychology, sociology and behavioral economics. [1] Although the reality of most of these biases is confirmed by reproducible research, [2] [3] there are often controversies about how to classify these biases or how to ...
Biases specific to groups (such as the risky shift) versus biases at the individual level. Biases that affect decision-making, where the desirability of options has to be considered (e.g., sunk costs fallacy). Biases, such as illusory correlation, that affect judgment of how likely something is or whether one thing is the cause of another.
Status quo bias should be distinguished from a rational preference for the status quo ante, as when the current state of affairs is objectively superior to the available alternatives, or when imperfect information is a significant problem. A large body of evidence, however, shows that status quo bias frequently affects human decision-making. [63]
It is part of cognitive science, and is a distinct cognitive bias that occurs once a decision is made. For example, if a person chooses option A instead of option B, they are likely to ignore or downplay the faults of option A while amplifying or ascribing new negative faults to option B.
While heuristics are tactics or mental shortcuts to aid in the decision-making process, people are also affected by a number of biases and fallacies. Behavioral economics identifies a number of these biases that negatively affect decision making such as: Present bias. Present bias reflects the human tendency to want rewards sooner. It describes ...
Though physical appearance will impact one's personal decision regarding an idea presented, a study conducted by Van Dillen, Papies, and Hofmann (2013) suggests a way to decrease the influence of personal attributes and selective exposure on decision-making. The results from this study showed that people do pay more attention to physically ...
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 .
In psychology, the false consensus effect, also known as consensus bias, is a pervasive cognitive bias that causes people to "see their own behavioral choices and judgments as relatively common and appropriate to existing circumstances". [1]