mindset.

Summary:

Cognitive bias is the tendency to act in an irrational way due to our limited ability to process information objectively. It is an error in thinking or judgement that influences our decisions and beliefs, often leading us away from rational and objective conclusions.

Real world application:

Confirmation bias is the tendency to process information by searching for, recalling, favouring, or interpreting, information that is consistent with one’s existing beliefs. It is a self-serving bias that can cause one to ignore information that would disprove one’s existing beliefs. A very contemporary example of cognitive bias is the practice of paying attention only to the sources of news that reinforce ones particularly political or economic point of view. Some ways to seek to overcome this bias include: being aware the biases exist; that judgements are not always accurate; remaining curious and asking good questions; actively look for disconfirming evidence; and the practice of intellectual humility where one remains open to the possibility they may be wrong.

Concept detail:

Research suggests that our brains are exposed to more than 10 million seperate pieces of information at any one time, however our brains can consciously deal with less than 40. In order to survive, and not be overwhelmed in our environment, our brains naturally filter out information, and we make decisions based on things happening in our brains that don’t reach the level of conscious thought. Through the use of ‘heuristics’ (simple, efficient rules) we form judgements and make decisions quickly. Heuristics enable us to focus on one element of a problem and ignore other information. These ‘mental shortcuts’ may work well at times, but they can also lead to bad decision making.