Biases: Decision MakingVersion en ligne Biases that affect decision making; judgmental heuristics par Ana Usua 1 Bias 1 2 Bias 2 3 Bias 3 4 Bias 4 5 Bias 5 6 Bias 6 7 Bias 7 8 Bias 9 availability heuristic tends to base decisions on information available in memory when it involves a recent event, it is salient and it evokes strong emotions representativeness heuristic tends to assess the likelihood of an event occurring based on one's impressions about similar occurrences (UConn graduate job) confirmation bias seeking information that supports your point of view and to discount information that does not anchoring bias occurs when decision makers are influenced by initial information even if irrelevant overconfidence bias our tendency to be overconfident about estimates of forecasts hindsight bias knowledge of an outcome influences belief about probability that the outcome could've been predicted earlier framing bias decision influenced by the way in which a problem is presented; tendency to consider risks about gains differently than to losses escalation of commitment bias the tendency to stick to an ineffective course of action when it is unlikely that the bad situation can be reversed
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