Search results
Results from the WOW.Com Content Network
The illusion that a phenomenon one has noticed only recently is itself recent. Often used to refer to linguistic phenomena; the illusion that a word or language usage that one has noticed only recently is an innovation when it is, in fact, long-established (see also frequency illusion).
The role of the unconscious mind on decision making is a topic greatly debated by neuroscientists, linguists, philosophers, and psychologists around the world. Though the actual level of involvement of the unconscious brain during a cognitive process might still be a matter of differential opinion, the fact that the unconscious brain does play ...
[6] [2] [7] It is also possible that choice-supportive memories arise because an individual is only paying attention to certain pieces of information when making a decision or to post-choice cognitive dissonance. [5] In addition, biases can also arise because they are closely related to the high level cognitive operations and complex social ...
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.
The economist and cognitive psychologist Herbert A. Simon introduced the concept of heuristics in the 1950s, suggesting there were limitations to rational decision making. In the 1970s, psychologists Amos Tversky and Daniel Kahneman added to the field with their research on cognitive bias .
Adaptive bias is the idea that the human brain has evolved to reason adaptively, rather than truthfully or even rationally, [clarification needed] and that cognitive bias may have evolved as a mechanism to reduce the overall cost of cognitive errors as opposed to merely reducing the number of cognitive errors, when faced with making a decision under conditions of uncertainty.
The theoretical underpinning of decision theory assumes that all decision makers are rational agents trying to maximize the economic expected value/utility of their choices, and that to accomplish this they utilize formal analytical methods such as mathematics, probability, statistics, and logic under cognitive resource constraints. [21] [22] [23]
[13] [14] This cognitive bias can lead individuals to discount rarer causes or events, attributing their perception solely to increased awareness. However, the “Mongoose Phenomenon” challenges conventional views on frequency illusions in decision-making. Instead, it suggests that overlooked events may not be as uncommon as perceived.