Topics
Cognitive bias
A cognitive bias is a systematic error in thinking that affects the decisions and judgments made by individuals. It can arise from various sources, such as personal experiences, preconceptions, emotions, and social influences.
Here are three examples of cognitive biases:
- Confirmation Bias: The tendency to seek out and interpret information in a way that supports one's pre-existing beliefs, while disregarding information that contradicts them.
- Availability Bias: The tendency to make decisions based on information that is most readily available, rather than seeking out all relevant information.
- Hindsight Bias: The tendency to believe, after an event has occurred, that one would have correctly predicted the outcome, despite having had no prior evidence or justification to support the prediction.
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Behavioural Economics (Quizlet Revision Activity)
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Behavioural Economics - Key Cognitive Biases
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11th December 2017