What are some examples of cognitive biases?

What are some examples of cognitive biases?

Cognitive biases are systematic patterns of deviation from norm or rationality in judgment. Examples include confirmation bias, where people favor information that confirms their existing beliefs, and anchoring bias, where individuals rely too heavily on the first piece of information they encounter.

Can you explain confirmation bias in more detail?

Sure! Confirmation bias occurs when individuals seek out or interpret information in a way that confirms their pre-existing beliefs. For instance, if someone believes a particular political view, they might only read news articles that support that view and ignore those that contradict it.

What are some real-life situations where cognitive biases affect decision-making?

Cognitive biases can affect decisions in various areas, such as investing, where people might hold onto losing stocks due to loss aversion, or in hiring, where biases can lead to unfair evaluations of candidates based on irrelevant factors.

How can we mitigate the effects of cognitive biases?

To mitigate cognitive biases, one can practice critical thinking, seek diverse perspectives, and be aware of one's own biases. Techniques like structured decision-making and using data-driven approaches can also help reduce their impact.