Biases and Errors
Whenever people are trying to make a decision, they tend to act in patterns controlled by their perception and understanding of the situations, their judgment hardly can be separated from the systematic behavioral, social and psychological biases, they tend to rely on their experiences and guts, generally people try to avoid falling to these biases and errors, but then sometimes they can’t and they don’t make the best decision they can make.
The most common bias is related to the fact that people tend to be overconfident about their abilities, and jump into judgment relying on this without being aware that they are falling for the “Overconfident” bias, and this leads them to an “Action Oriented” or “Self Interest” biases, mostly these people are with the weakest abilities.
People also fall to start judging according to available and first information they have, as in the “Availability” and “Anchoring” Biases, recent research indicated that it’s very impactful to making decisions when people feel that they have the ready information and a similar experience.
Sometimes people try to confirm their own judgment by seeking supportive information then giving them the highest weight, and discarding information that contradict their choice then giving these information too little weight. This is what so called “Confirmation” or “Pattern Recognition” biases. And when people stick to their choice despite all the evidences that it’s wrong, they fell into