What is Cognitive Bias?
The mind is capable of generating complex thought processes so as to make decisions. Most of the time we make decisions on the basis of prevailing thoughts based on already known contexts. Our thought processes are driven by memory, intuitions, and thinking patterns. We have a chance to make good and poor decisions based on knowledge, environment, and experience.
The limitation to take any decision on the basis of certain knowledge, environmental context and experience leads to error in processing and interpreting information leading to sided judgments. This is known as Cognitive Bias.
The concept of Cognitive bias was first introduced by researchers Amos Tversky and Daniel Kahneman in 1972.
Why is knowing about Cognitive Bias important?
Understanding of Cognitive Bias can help individuals make better decisions. There is a lot of information flowing in our thought process. To make quick decisions we tend to look at some factors and end up making poor decisions. If an individual is aware of the cognitive bias he/she is able to make better decisions.
Following factors generally contribute to biases:
b) Individual Motivations
c) Limits on the mind’s ability to process information
d) Social Pressures
Quick ways to identify you are influenced by some kind of Cognitive Bias
There can be a lot of ways to identify biases. It’s easier to judge others based on certain instances, but identification of bias can be known when a person tends to repeat patterns again and again.
Let’s say if you have a friend and he never listens to you and always ends up making decisions that turn against him, then you probably can relate to some kind of bias.
Some identifications factors are listed below:
1) Presentation of other people success to luck and self accomplishments of personal hard work
2) Assumption that everyone shares the same opinions or beliefs you determine
3) Blaming outside factors when your activities don’t bring outcomes
4) Assumption of mastering on the subject although you have little knowledge
5) Taking decisions on the basis of self-knowledge and experience
6) Only paying attention to opinions that confirm your thought process
7) Taking the side of the decision on the basis of past relationships and connection on assumption that people are going to change for good
How to overcome Cognitive Bias?
Knowledge of cognitive bias is very important to overcome cognitive bias. I have listed some points which can help in better decision-making:
1) Knowledge and awareness of biases
2) Consideration of factors that result in Cognitive Bias
3) Challenging one's thought process to prevent biases
I tried to provide a general idea about cognitive bias in this article and will discuss various biases mentioned in the diagram mentioned below link in the upcoming articles.
I will also connect upcoming articles with relatable stories and examples.