Cognitive bias is a distortion in the way we perceive reality. This concept provides a comprehensive review of the cognitive bias that can affect individuals and organisations. You will also gain an understanding of the different kinds of biases and how to use techniques to level the playing field.
Cognitive Bias Definition
Cognitive bias refers to a mental error caused by simplified information processing strategies employed by our subconscious mind. Generally, human cognitive limitations allow people to use simplifying strategies to mentally process information. These strategies are generally useful as they help individuals deal with complexity and ambiguity. At the same time, they can lead to predictable faulty judgements known as cognitive biases (Tversky and Kahneman, 1974). Cognitive biases are studied by behavioural economists.
Cognitive Bias Description *
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Examples of Cognitive Bias *
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Cognitive Bias References (4 of up to 20) *
- Ariely, D. (2008) Predictably Irrational: The Hidden Forces That Shape Our Decisions. HarperCollins, pp. 304.
- Awati, K. (2009) The Role of Cognitive Biases in Project Failure. Eight to Late. [Online] Available at: eight2late.wordpress.com/2009/05/08/the-role-of-cognitive-biases-in-project-failure/ [Accessed: 22 February 2012].
- Berreby, D. (2008) Emonomics. New York Times [online] Available at http://www.nytimes.com/2008/03/16/books/review/Berreby-t.html [Accessed: 14 February 2012].
- Cummins, R.A. and Nistico, H. (2002) Maintaining Life Satisfaction: The Role of Positive Cognitive Bias. Journal of Happiness Studies, Vol. 3, pp. 37-69.
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