Cognitive Bias (Decision-making)
Decisions
Our decisions are biased by several forms of inertia, risk aversion, and informational biases
Overview
In this section, we discuss cognitive biases in the context of decision-making. Sections include the following:
- Paradigm: Bias in favor of continued adherence to a paradigm
- Investment: Inertial bias in regard to existing investment
- Familiarity: The role of familiarity in biased decision-making
- Risk: Our predictions of risk tend to be biased in predictable ways
- Presentation: Option presentation can be a significant source of bias
- Information: We do not naturally take dilligent account of the full abundance of available information in making decisions
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