Lecture 1: Cognitive bias and heuristics
Cognitive bias
There are many factors related to the individual difference in making decisions. Let’s start with the concept of cognitive bias.
‘Bias’ here does not simply mean an error or mistake about the outcome of a decision. Here we mean that we don’t only focus on whether the outcome is right or wrong, but also on information is processed.
And for all these ‘bias’ and ‘heuristics’ we have mentioned in the video, does that mean we, human beings. are making ‘stupid’ decisions?
What do you think about this?
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