Cognitive Biases Explained with Examples
Cognitive biases: confirmation bias seeking supporting evidence, anchoring to first numbers, availability bias valuing recent events, and sunk cost fallacy.
All articles tagged with "Judgment"
Cognitive biases: confirmation bias seeking supporting evidence, anchoring to first numbers, availability bias valuing recent events, and sunk cost fallacy.
Decision making under uncertainty means choosing when you don't know all outcomes or probabilities. Use probabilistic thinking and scenarios.
High performers use frameworks like second-order thinking, regret minimization, and expected value to make better decisions systematically.
Mental models for decisions include second-order thinking, inversion, first principles, and probabilistic reasoning to make better choices systematically.
Values act as decision filters that determine what you consider, ignore, and prioritize. Most values operate unconsciously until they conflict.
Choose mental models by matching problem type: first principles for novelty, probabilistic thinking for uncertainty, systems thinking for complexity.
Analytical models excel in stable, data-rich environments. Intuition wins in complex, ambiguous situations with time pressure. Use both strategically.
Frameworks fail when context changes, oversimplification hides critical nuance, rigidity prevents adaptation, or wrong model is applied to problem.
Rules fail when context changes, complexity increases beyond anticipation, or people game them by optimizing the rule instead of the intended goal.
Intelligence doesn't prevent bias. Overconfidence makes smart people overestimate ability. Blind spots persist regardless of IQ.