Knowledge Tree
Relations (1)
related 3.70 — strongly supporting 12 facts
Cognitive biases are recognized as fundamental factors that influence and shape human decision-making processes, as established in foundational research [1] and explored through various theoretical frameworks {fact:2, fact:10}. Empirical studies and reviews consistently examine how these biases impact the quality and nature of decisions across different professional and general contexts {fact:3, fact:7, fact:11}.
Facts (12)
Sources
The Impact of Cognitive Biases on Professionals' Decision-Making frontiersin.org 9 facts
claimGeneric, non-contextualized measures of cognitive biases are suitable for research aimed at describing general aspects of decision-making, as noted by Parker and Fischhoff (2005) and Bruine de Bruin et al. (2007).
claimDas and Teng (1999) hypothesized that the presence of specific cognitive biases is contingent upon the specific decision-making process engaged in by the decision maker, rather than being robust across all processes.
referenceHelm, Wistrich, and Rachlinski (2016) investigated whether arbitrators are subject to human cognitive biases in their decision-making processes.
procedureThe literature search for the study 'The Impact of Cognitive Biases on Professionals' Decision-Making' was conducted using the Web of Science (WoS) database with the search terms 'cognitive biases AND decision making' and included research articles, review articles, or book chapters without time restrictions.
referenceKahneman, Slovic, and Tversky (1982) edited a collection of research titled 'Judgment Under Uncertainty: Heuristics and Biases', which established the study of cognitive biases in decision-making.
claimThe framework proposed by Das and Teng (1999) regarding the relationship between cognitive biases and decision-making modes lacks support from rigorous empirical evidence.
procedureThe study selected 79 eligible articles for the final review based on two inclusion criteria: the article had a clear focus on cognitive biases and decision-making, and the article reported a review or a representative empirical study.
referenceDas and Teng (1999) proposed a framework linking four cognitive biases (prior hypotheses and focusing on limited targets, exposure to limited alternatives, insensitivity to outcome probabilities, and illusion of manageability) to five modes of decision-making (rational, avoidance, logical incrementalist, political, and garbage can).
claimThe article titled 'The Impact of Cognitive Biases on Professionals' Decision-Making: A Review of Four Occupational Areas' by V. Berthet was published in Frontiers in Psychology on January 4, 2022.
Behavioral Economics, and How it Affects Your Financial Decisions ... smlny.com 1 fact
claimAvailability bias is a cognitive bias where the decision-making process is most strongly influenced by events that are closest and most available to the individual.
5 common behavioural investing biases - ATB Financial atb.com 1 fact
claimCognitive biases can be moderated through education and self-awareness, while emotional biases are more difficult to manage because they are generally irrational and affect short-term decision-making.
Naturalized epistemology and cognitive science | Intro to... - Fiveable fiveable.me 1 fact
claimEvolutionary epistemology examines how evolved cognitive biases and heuristics affect human knowledge and decision-making.