10 Questions
Match the following cognitive biases with their descriptions:
Prior Hypothesis Bias = Occurs when decision-makers make decisions based on strong prior beliefs despite evidence Escalating Commitment = Occurs when decision makers commit more resources to a failing project after already investing resources Representativeness = Rooted in the tendency to generalize from a small sample or vivid anecdote Illusion of Control = Rooted in the tendency to overestimate one's ability to control events
Match the following cognitive biases with their definitions:
Reasoning by Analogy = Involves using simple analogies to understand complex problems Devil’s Advocacy = Technique where one acts as a devil's advocate bringing out reasons a proposal may be unacceptable Cognitive Biases = Systematic errors in human decision making arising from how information is processed CSS = Styling web pages
Match the following cognitive biases with their examples:
Prior Hypothesis Bias = Making decisions based on political beliefs despite factual information Representativeness = Believing all members of a group have the same opinion as a vocal minority Devil’s Advocacy = Pointing out flaws in an argument to ensure all perspectives are considered Cognitive Biases = Errors in judgment that lead to suboptimal decisions
Match the following cognitive biases with their outcomes:
Escalating Commitment = Investing more money into a failing business venture despite increasing losses Reasoning by Analogy = Using similarities between two situations to solve a problem in an unrelated field Illusion of Control = Feeling confident in predicting the outcome of unpredictable events CSS = Styling web pages
What is the cognitive bias that occurs when decision-makers make decisions based on strong prior beliefs?
Prior Hypothesis Bias
Which cognitive bias involves committing more resources to a failing project after already investing significantly?
Escalating Commitment
What cognitive bias involves using simple analogies to solve complex problems?
Reasoning by Analogy
Which cognitive bias is rooted in generalizing from small samples or vivid anecdotes?
Representativeness
What cognitive bias involves overestimating one's ability to control events?
Illusion of Control
What technique involves one member acting as a devil's advocate to bring out all considerations?
Devil’s Advocacy
Study Notes
Cognitive Biases
- Cognitive biases are systematic errors in human decision making that arise from the way people process information.
Types of Cognitive Biases
- Prior Hypothesis Bias: occurs when decision makers tend to make decisions based on strong prior beliefs, even when presented with evidence that their beliefs are wrong.
- Escalating Commitment: occurs when decision makers commit more resources to a project after receiving feedback that the project is failing, due to resources already invested.
- Reasoning by Analogy: involves using simple analogies to make sense out of complex problems.
- Representativeness: occurs when people generalize from a small sample or even a single vivid anecdote.
- Illusion of Control: occurs when people overestimate their ability to control events.
Techniques to Counter Cognitive Biases
- Devil's Advocacy: a technique in which one member of a decision-making group acts as a devil's advocate, bringing out all the considerations that might make a proposal unacceptable.
Explore cognitive biases, including Prior Hypothesis Bias and Escalating Commitment, and how they lead to systematic errors in human decision-making processes. Learn how decision-makers may rely on strong prior beliefs or commit more resources to a project despite evidence against their initial choices.
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