Cognitive biases can lead to poor decisionmaking from "summary" of Misbehaving by Richard H Thaler
Cognitive biases can cloud our judgment and influence the decisions we make. These biases stem from our mental shortcuts and ingrained beliefs, leading us to make choices that may not always be in our best interest. One common bias is overconfidence, where we believe we know more than we actually do. This can lead to risky decisions based on incomplete information. Another bias is the confirmation bias, where we seek out information that confirms our existing beliefs while ignoring evidence that contradicts them. This can result in a narrow perspective and p...
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