Psychology identifies cognitive biases as shortcuts in thinking resulting from errors in judgment, memory, and social attribution. Examples include cognitive dissonance, illusory correlation, self-centered, hot and cold cognition biases. There are certain types of cognitive biases that have been identified by the science of psychology. These biases are described as shortcuts in thinking that result […]
Heuristics are cognitive strategies used to make decisions when faced with data overload. However, they can lead to biases, such as overassigning probabilities to conjunctions and anchoring. Bayes’ rule can help make unbiased predictions, but it can be difficult to apply in everyday contexts. Heuristics are “rules of thumb,” cognitive strategies people use to make […]
