Decision-Making Biases

noun a noun is a word that refers to a person, place, thing, event, substance, or quality

adjective a word that describes or modifies a noun or pronoun

• His overconfidence in his abilities led to his downfall in the competition.
• She was so overconfident that she didn't even bother preparing for the presentation.
• Don't get too cocky, your overconfidence might cost you in the end.
• His overconfidence was like a blindfold, preventing him from seeing the reality of the situation.

noun a tendency to judge a decision based on its outcome rather than the quality of the decision-making process

• The outcome bias occurs when decisions are judged based on the result rather than the quality of the decision-making process.
• People tend to have outcome bias when they only focus on the end result and not how the decision was made.
• Don't let outcome bias cloud your judgment, sometimes the process is more important than the outcome.
• Just because the outcome was successful doesn't mean the decision-making process was sound, watch out for outcome bias.

noun a cognitive bias that causes people to give more weight to negative information and experiences than positive ones

• The concept of negativity bias suggests that humans tend to focus more on negative experiences than positive ones.
• Negativity bias is why we always remember the one bad thing that happened on a trip, even if everything else was great.
• Negativity bias is like our brain's default setting to always expect the worst.
• Just like how a magnet is drawn to metal, our minds are naturally drawn to negativity bias in challenging situations.

noun a tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses

• Confirmation bias refers to the tendency of individuals to favor information that confirms their preexisting beliefs or hypotheses.
• People often fall victim to confirmation bias by only seeking out information that supports what they already believe.
• Confirmation bias is like having blinders on, only seeing what you want to see.
• In a world of confirmation bias, it's like wearing rose-colored glasses that only show you the positives.