Category 1: Evidence and Information Processing Biases

  1. Confirmation Bias

    Description: The tendency to seek out or favor information that confirms existing beliefs.

    Overcoming Actions: Actively search for disconfirming evidence and play devil’s advocate to challenge assumptions.

  2. Anchoring Bias

    Description: Relying too heavily on the first piece of information (the “anchor”) when making decisions.

    Overcoming Actions: Consider multiple reference points and adjust initial estimates with additional data.

  3. Availability Heuristic/Bias

    Description: Overvaluing information that is most recent or easily recalled, rather than what is most representative.

    Overcoming Actions: Supplement intuitive judgments with systematic data and broader research.

  4. Information Bias

    Description: Seeking excessive or irrelevant data even when it does not directly affect the decision outcome.

    Overcoming Actions: Focus on gathering only the key pieces of information that have a direct impact on the decision.

  5. Base Rate Fallacy

    Description: Ignoring general statistical information (base rates) in favor of specific anecdotes or details.

    Overcoming Actions: Incorporate robust statistical data and consider the broader context.

  6. Representativeness Heuristic

    Description: Judging probabilities based on how similar an example is to a typical case, rather than using statistical reasoning.

    Overcoming Actions: Validate assumptions by comparing with objective, quantitative data.


Category 2: Perception and Framing Biases

  1. Framing Effect

    Description: Decisions are influenced by the way information is presented (e.g., as gains vs. losses).

    Overcoming Actions: Reframe the problem in multiple ways to see if conclusions change.

  2. Halo Effect

    Description: Letting a positive impression in one area influence overall judgment in unrelated areas.

    Overcoming Actions: Evaluate different aspects of a product or decision independently.

  3. Salience Bias

    Description: Focusing on the most noticeable or striking features rather than the complete picture.

    Overcoming Actions: Systematically assess all relevant factors, not just the most prominent ones.

  4. Mere Exposure Effect

    Description: Favoring options simply because they are more familiar.

    Overcoming Actions: Deliberately explore new or less familiar alternatives with an objective lens.

  5. Illusory Correlation

    Description: Perceiving a relationship between variables even when none exists.

    Overcoming Actions: Rely on data analysis to verify or refute suspected correlations.


Category 3: Judgment and Decision-Making Biases

  1. Overconfidence Bias

    Description: Overestimating one’s own abilities or the accuracy of one’s predictions.

    Overcoming Actions: Seek external feedback and use probabilistic thinking to temper expectations.

  2. Optimism Bias

    Description: Expecting outcomes to be more favorable than they likely are.

    Overcoming Actions: Conduct realistic scenario planning and include conservative estimates.

  3. Pessimism Bias

    Description: Overestimating the likelihood of negative outcomes.

    Overcoming Actions: Balance negative forecasts with data-driven insights on potential upsides.

  4. Hindsight Bias

    Description: Believing, after an event has occurred, that the outcome was predictable.

    Overcoming Actions: Document decision-making processes and uncertainties before outcomes are known.