List of cognitive biases
From Wikipedia, the free encyclopedia
A cognitive bias is a pattern of deviation in judgment that occurs in particular situations. Implicit in the concept of a “pattern of deviation” is a standard of comparison; this may be the judgment of people outside those particular situations, or may be a set of independently verifiable facts. The existence of some of these cognitive biases has been verified empirically in the field of psychology.
Cognitive biases are instances of evolved mental behavior. Some are presumably adaptive, for example, because they lead to more effective actions in given contexts or enable faster decisions when faster decisions are of greater value. Others presumably result from a lack of appropriate mental mechanisms, or from the misapplication of a mechanism that is adaptive under different circumstances.
Cognitive bias is a general term that is used to describe many distortions in the human mind that are
difficult to eliminate and that lead to perceptual distortion, inaccurate judgment, or illogical interpretation.
Decision-making and behavioral biases
Many of these biases are studied for how they affect belief formation, business decisions, and scientific research.
Anchoring – the common human tendency to rely too heavily, or “anchor,” on one trait or piece of information when making decisions.
Attentional Bias – implicit cognitive bias defined as the tendency of emotionally salient stimuli in one’s environment to preferentially draw and hold attention.
Bandwagon effect – the tendency to do (or believe) things because many other people do (or believe) the same. Related to groupthink and herd behavior.
Bias blind spot – the tendency to see oneself as less biased than other people.
Choice-supportive bias – the tendency to remember one’s choices as better than they actually were.
Confirmation bias – the tendency to search for or interpret information in a way that confirms one’s preconceptions.
Congruence bias – the tendency to test hypotheses exclusively through direct testing, in contrast to tests of possible alternative hypotheses.
Contrast effect – the enhancement or diminishing of a weight or other measurement when compared with a recently observed contrasting object.
Denomination effect – the tendency to spend more money when it is denominated in small amounts (e. g. coins) rather than large amounts (e. g. bills).
Distinction bias – the tendency to view two options as more dissimilar when evaluating them simultaneously than when evaluating them separately.
Endowment effect – “the fact that people often demand much more to give up an object than they would be willing to pay to acquire it”.
Experimenter’s or Expectation bias – the tendency for experimenters to believe, certify, and publish data that agree with their expectations for the outcome of an experiment, and to disbelieve, discard, or downgrade the corresponding weightings for data that appear to conflict with those expectations.
Extraordinarity bias – the tendency to value an object more than others in the same category as a result of an extraordinarity of that object that does not, in itself, change the value.
Focusing effect – the tendency to place too much importance on one aspect of an event; causes error in accurately predicting the utility of a future outcome.
Framing effect – drawing different conclusions from the same information, depending on how that information is presented.