TYPES OF COGNITIVE BIAS Flashcards
A cognitive bias where a person’s subjective confidence in their judgments or abilities is greater than their objective accuracy.
Overconfidence Bias
A cognitive bias where people make judgments about the probability of an event based on how closely it resembles other events or categories.
Representativeness Bias
A cognitive bias where people rely too heavily on the first piece of information they receive when making subsequent judgments.
Anchoring and Adjustment Bias
A mental state where a person holds two or more contradictory beliefs or values, leading to psychological discomfort.
Cognitive Dissonance
A mental shortcut that relies on immediate examples that come to a given person’s mind when evaluating a specific topic, concept, method, or decision.
Availability Heuristic
A cognitive bias where individuals attribute their successes to internal factors and their failures to external factors
Self-attribution Bias
A cognitive bias where people overestimate their ability to control events that are beyond their control.
Illusion of Control
A cognitive bias where people tend to maintain their existing beliefs or attitudes even in the face of new information that contradicts those beliefs.
Conservatism Bias
A cognitive bias where people tend to avoid uncertain options and instead choose options with a known outcome.
Ambiguity Aversion
A cognitive bias where people categorize their money into different mental accounts based on subjective criteria.
Mental Accounting Bias
A cognitive bias where individuals search for, interpret, and remember information in a way that confirms their pre-existing beliefs or hypotheses.
Confirmation Bias
A cognitive bias where people overestimate their ability to predict an event after it has occurred.
Hindsight Bias
A cognitive bias where people give more weight to recent events or experiences when making judgments or decisions.
Recency Bias
A cognitive bias where people’s decisions are influenced by the way that information is presented to them.
Framing Bias
