Decision Making Biases
Learn about cognitive biases that impact our choices and judgment through real-world examples.
Anchoring Bias
Our tendency to fixate on the first piece of information we encounter can heavily skew our decisions. That initial 'anchor' sets the stage for everything that follows—even if better information comes along later.
Availability Heuristic
Our tendency to rely on information that comes to mind quickly and easily can skew our perception of reality. Events that are vivid, recent, or emotionally charged are given disproportionate weight in our decisions—even when statistical evidence tells a different story.
Confirmation Bias
We tend to seek out and interpret information in ways that support our existing beliefs—while discounting or ignoring contradictory perspectives.
Status Quo Bias
Our innate preference for keeping things as they are often overpowers the potential benefits of change. We'll stick with familiar options even when alternatives offer significant advantages.
Sunk Cost Fallacy
We irrationally cling to choices we've already invested in—whether time, money, or effort—despite diminishing returns. This powerful psychological trap keeps us throwing good resources after bad.
Survivorship Bias
We tend to focus on successes while ignoring failures, leading to distorted conclusions. This bias can make risky ventures seem safer than they actually are.