key term - Biased Decision-Making Processes

Definition

Biased decision-making processes refer to situations where decisions are influenced by personal preferences, beliefs, stereotypes, emotions, or other factors that are not based on objective reasoning or evidence. These biases can lead to unfair or inaccurate decision-making outcomes.

Related terms

Confirmation Bias:

Confirmation bias is the tendency to interpret or seek out information that confirms our existing beliefs or hypotheses while ignoring or downplaying contradictory evidence.

Availability Heuristic:

The availability heuristic is a mental shortcut where judgments are based on how easily examples come to mind rather than an accurate assessment of probabilities.

Anchoring Bias:

The anchoring bias occurs when individuals rely too heavily on initial information (the anchor) when making decisions, even if it may not be relevant or reliable.