Common Cognitive Biases 


Confirmation bias - 

To look for or to interpret evidence to support 

prior hypothesis rather than 100k for 

disconfirming evidence. 

Availability bias  - 

Judgments Of likelihood or percentages based on 

ease Of recall (greater 'availability' in memory) 

rather than on actual probabilities. 

Anchoring effect  - 

To rely heavily on one piece of information when 

making decisions (usually the first piece of 

information acquired: the 'anchor'). 

Framing effect  - 

To draw different conclusions from the same 

information, depending on how that 

information is presented. 

Loss aversion  - 

To view losses as looming larger than 

corresponding gains. 

Attribute substitution  - 

Answering a complex, difficult question by 

substituting it by a related but simpler one. 

Sunk-cost effect  - 

To allow previously spent time, money, or effort 

to influence present or future decisions. 

Dunning-Krüger effect  - 

Tendency for unskilled individuals to 

overestimate their own ability ('illusory 

superiority') and the tendency for experts to 

underestimate their own ability. 

Bandwagon effect  - 

To do (or believe) things because many other 

people do (or believe) the same. 

Commission bias  - 

To favour action rather than inaction. 

Blind obedience  - 

To show undue deference to authority or 

technology. 

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