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Skills 360 – What is Cognitive Bias?
May 26, 2024
Learn about cognitive biases that affect decision-making, including confirmation bias and sunk-cost fallacy. Understand how biases like the halo effect and horns effect can skew perceptions. Explore the importance of data in decision-making and how biases like sample size neglect and availability bias can impact judgments.
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Quick takeaways
- Confirmation bias leads to focusing on supporting beliefs and ignoring contradicting evidence.
- Halo effect influences judgments based on specific traits, affecting hiring decisions and overall perceptions.
Deep dives
Common Cognitive Biases and Their Impact on Decision-Making
Decisions are influenced by cognitive biases, which are unconscious tendencies leading to poor judgments. One prevalent bias is confirmation bias, where individuals focus on information supporting their beliefs while ignoring contradictory evidence. The sunk cost fallacy causes people to persist in a failing course of action due to prior investments. Biases like the halo and horns effect shape opinions based on specific traits, affecting hiring decisions and overall judgments.
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