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What is Cognitive Biases

Chapter 15
Handbook of Research on Sustainable Supply Chain Management for the Global Economy
Cognitive biases are manifested as systematic deviations from the results of thinking, judgment, reasoning, memory, and decision-making processes from normative standards.
Published in Chapter:
Behavioral Economics: New Dimension in Understanding the Real Economic Behavior
Miloš Krstić (Faculty of Science and Mathematics, University of Niš, Serbia) and Nebojša Pavlović (Faculty of Hotel and Tourism, University Kragujevac, Serbia)
Copyright: © 2020 |Pages: 18
DOI: 10.4018/978-1-7998-4601-7.ch015
Abstract
The idea of the significance of the psychological dimension of human behavior is not new and has existed in the social sciences since ancient times. Accordingly, there is an endeavor to place economic analysis on the foundations of psychological research, which takes its form of expression in economic theory through the affirmation of behavioral economics. The aim of this chapter is to critically analyze various normative research programs in behavioral economics and to consider the importance of alternative concepts, models, and theories from the point of view of improving understanding of real economic and social behavior. The particular value of this chapter lies in affirming the importance of a program of behavioral economics known as new paternalism, which is based on challenging the concept of maximizing rationality and opens a new dimension of understanding the justification of state interference in the sphere of economy and society.
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Chapter 106
Comparative Analysis of Applying Behavioral Public Policy to Telecommunication Market by International Organizations
Cognitive biases is a theory of cognitive psychology and social psychology that posits that when evaluating a certain object, an idea can be distorted in a direction according to a person’s interests and hopes, and the evaluation is distorted by the features that are noticeable to the object.
Published in Chapter: Comparative Analysis of Applying Behavioral Public Policy to Telecommunication Market by International Organizations; From: Encyclopedia of Information Science and Technology, Fifth Edition
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Chapter 1
Understanding the Modern Consumer Mindset and the Psychological Elements Driving It
Cognitive biases are the irrational judgements that occur when people employ mental shortcuts by oversimplifying complicated data.
Published in Chapter: Understanding the Modern Consumer Mindset and the Psychological Elements Driving It; From: Navigating the Shifting Landscape of Consumer Behavior
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Chapter 11
Managing Diversity: A Study of Multicultural Workplaces in Arab and Chinese Societies Post Pandemic
Systematic patterns of deviation from norm or rationality in judgment, such as stereotyping and ethnocentrism, that can affect interpersonal interactions in multicultural settings.
Published in Chapter: Managing Diversity: A Study of Multicultural Workplaces in Arab and Chinese Societies Post Pandemic; From: Global Citizenship and Its Impact on Multiculturalism in the Workplace
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Chapter 12
Taxonomies of Debiasing Methods in Procurement Processes
Shortcuts may appear to be the right methods for generating quick solutions, they can also lead to systematic errors at times ( Keles, 2018 ). These systematic errors are called “cognitive biases” in the literature.
Published in Chapter: Taxonomies of Debiasing Methods in Procurement Processes; From: Overcoming Cognitive Biases in Strategic Management and Decision Making
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Chapter 129
Neurostrategy
These are irrational prejudices that appear in economic and financial decisions, which influence individuals’ decision-making preferences. They include loss aversion, sunk cost fallacy or reward discounting.
Published in Chapter: Neurostrategy; From: Encyclopedia of Organizational Knowledge, Administration, and Technology
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Chapter 24
Behavioral Performance Evaluation
Violations of the axioms of prescriptive decision making theory.
Published in Chapter: Behavioral Performance Evaluation; From: Encyclopedia of Business Analytics and Optimization
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Chapter 5
Exploring Groupthink Bias and Polarisation Bias
Systematic patterns of deviation from norm or rationality in judgment, often influencing decision-making Kahneman, D. (2011) AU90: The in-text citation "Kahneman, D. (2011)" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. . Thinking, fast and slow.
Published in Chapter: Exploring Groupthink Bias and Polarisation Bias; From: Overcoming Cognitive Biases in Strategic Management and Decision Making
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