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Our decisions are affected by our inherent cognitive biases from "summary" of Predictably Rational? by Richard B. McKenzie
Richard B. McKenzie delves into the intriguing world of decision-making in his book 'Predictably Rational?' He explores the idea that our choices are often influenced by cognitive biases that are inherent in human psychology. These biases can lead us astray, causing us to make decisions that may not always be in our best interest. One such cognitive bias is the confirmation bias, where individuals seek out information that confirms their pre-existing beliefs while ignoring evidence that contradicts them. This can lead to a skewed perception of reality, as people tend to dismiss information that challenges their worldview. Another common bias is the anchoring effect, where individuals rely too heavily on the first piece of information they ...
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