Recognizing Cognitive Biases and Strategies for Overcoming Them
I used to think that I was immune to making biased decisions when I was a young student. I considered myself to be logical and reasonable, and I believed I was exempt from the irrationality that so many people experience. But as I got older and learned more about psychology and the brain, I understood that cognitive biases can affect anyone. We risk making poor judgements and decisions as a result of these mental shortcuts (Kahneman, 2011). The first step to overcoming these biases and arriving at better decisions is to comprehend and be aware of them.
What are Cognitive Biases?
Cognitive biases are patterns of thought that lead us to make judgments that deviate from a standard of rationality or good judgment (Tversky & Kahneman, 1974). They are often a result of our brain’s attempt to simplify information processing. Some common cognitive biases include:
Confirmation Bias
Searching for, favouring, and remembering information that supports one’s preexisting beliefs or hypotheses is known as confirmation bias (Nickerson, 1998).
Anchoring Bias
An excessive reliance on the first piece of information one learns when making decisions is known as a “anchoring bias” (Tversky & Kahneman, 1974).
Representativeness Bias
Representativeness bias is the propensity to assess an event’s likelihood based on how closely it resembles a prototype (Kahneman & Tversky, 1972).
Availability Heuuristic
The propensity to overestimate the likelihood of an event based on its recallability is known as the availability heuristic (Tversky & Kahneman, 1973).
The Impact of Cognitive Biases
Our decisions and behaviours can be significantly impacted by cognitive biases. They might influence us to make poor decisions that have unfavourable outcomes (Gilovich, Griffin, & Kahneman, 2002). As an illustration, confirmation bias can cause us to look only for information that confirms our preexisting beliefs and to ignore evidence that challenges those beliefs (Nickerson, 1998). Anchoring bias can lead us to base our decisions on arbitrary or irrelevant information (Tversky & Kahneman, 1974). Representativeness bias can lead to stereotyping and cause us to make judgements that are not based on reality (Kahneman & Tversky, 1972).
Comparison of Cognitive Biases
There are many cognitive biases that can affect how we think and make decisions. The following table contrasts some of the more prevalent biases:
Overcoming Cognitive Biases
Although cognitive biases cannot be completely eliminated, there are steps we can take to lessen their impact (Bazerman & Moore, 2013). The following are some methods for overcoming cognitive biases:
Seeking out diverse perspectives
Exposure to various perspectives can aid in challenging and expanding our thinking (Diversity & Psychological Safety Team, 2019). For instance, if you are thinking about a contentious political issue, look for viewpoints from people with various political philosophies or life experiences.
Being aware of our own biases
By identifying and admitting our own biases, we can take action to lessen their impact (Bazerman & Moore, 2013). Consider the logical merits of an argument as well, for instance, if you are aware that you have a propensity to be influenced by emotional arguments.
Asking for feedback
Getting other people’s opinions can help us identify any biases we may be hiding (Bazerman & Moore, 2013). For instance, if you are deciding on a significant life decision, think about getting advice from friends and family who have various viewpoints.
Implementing structured decision-making processes
To lessen the impact of cognitive biases, decision matrices and other structured decision-making techniques can be used (Bazerman & Moore, 2013). For instance, if you are choosing between several job offers, make a matrix that weighs the advantages and disadvantages of each choice.
References
Bazerman, M. H., & Moore, D. A. (2013). Judgment in managerial decision making (8th ed.). Hoboken, NJ: Wiley.
Diversity & Psychological Safety Team. (2019). Best practices for inclusive meetings. Retrieved from https://rework.withgoogle.com/guides/inclusive-meetings/steps/introduction/
Gilovich, T., Griffin, D., & Kahneman, D. (2002). Heuristics and biases: The psychology of intuitive judgment. Cambridge, UK: Cambridge University Press.
Kahneman, D. (2011). Thinking, fast and slow. New York, NY: Farrar, Straus and Giroux.
Kahneman, D., & Tversky, A. (1972). Subjective probability: A judgment of representativeness. Cognitive Psychology, 3(3), 430–454.
