{"id":580134,"date":"2022-12-08T13:20:16","date_gmt":"2022-12-08T13:20:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/our-brain-is-tricking-us-for-efficiency-heuristics-and-cognitive-biases-in-decision-making\/"},"modified":"2022-12-08T13:20:16","modified_gmt":"2022-12-08T13:20:16","slug":"our-brain-is-tricking-us-for-efficiency-heuristics-and-cognitive-biases-in-decision-making","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/our-brain-is-tricking-us-for-efficiency-heuristics-and-cognitive-biases-in-decision-making\/","title":{"rendered":"Our brain is tricking us for efficiency: Heuristics and cognitive biases in decision-making"},"content":{"rendered":"

<\/a> Our brain: A flawed masterpiece.<\/strong> On average, our minds go through 74GB of information every day, with a constant stream of information from all the different devices we use, on top of the information-dense surroundings of urban spaces, according to a research analysis (pdf)<\/a>. To put that figure into perspective, it\u2019s the equivalent of 16 movies.<\/p>\n

How do our brains handle these massive loads? They take little shortcuts here and there<\/strong> to make life a bit easier. Brains are designed and wired to prioritize efficiency wherever possible, so they rely on tools like heuristics<\/a> \u2014 essentially a mental shortcut that helps us make decisions faster. When we make rational decisions, we typically spend lots of time (and cognitive energy) weighing all the available information, including the pros and cons of each scenario, to reach a logical conclusion.<\/p>\n

Heuristics allow our brains to get to the end point faster when it comes to snap decisions<\/strong> and thought processes.<\/strong> \u201cFor example, humans have only limited time, information, and cognitive capacity to decide which mate to choose, food to eat, or house to buy, and so may have to rely on simple decision strategies or heuristics to make their decisions,\u201d according to an article<\/a> published in the Encyclopedia of Human Behavior.<\/p>\n

The danger of heuristics: They can result in some <\/strong>cognitive biases<\/a><\/strong>, which are essentially incorrect judgments or assumptions. These biases become systematic errors that can perpetuate the same type of thinking if they remain unchecked, resulting in sometimes hyperbolic behavior. Scientists who studied the neural pathways our brains use when employing heuristics \u2014 and that result in cognitive biases \u2014 have found that there are several different types of biases:<\/p>\n

#1- Scrolling through articles that all seem to be giving the same news or confirming the<\/strong> same opinions?<\/strong> That\u2019s actually social media algorithms perpetuating confirmation bias by feeding us content that is in line with our interests and views, in a bid to get more engagement and clicks. This bias, known as the confirmation bias, is \u201cthe tendency to select, interpret, focus on, and remember information in a way that confirms one\u2019s preconceptions, views, and expectations,\u201d according to a 1998 study<\/a>. So that means that, besides the algorithm already doing a lot of work to bring us data that feeds into our preconceptions, we\u2019re also likely to seek out information in a way that confirms our thoughts and opinions. That often means the lack of exposure to opposing viewpoints will further entrench our biases and ideas.<\/p>\n

#2- \u201cI\u2019ve already spent too much time\/money\/effort. I can\u2019t quit now.\u201d<\/strong> This common way of thinking is a cognitive bias known as the sunk cost bias, which refers to our tendency to stick with a something \u2014 be it an activity, a relationship, a job, or just a bad movie \u2014 because we\u2019ve already invested time, money, or effort into it and don\u2019t want to see these resources go to waste midway through. This bias \u201cmeans that we are making decisions that are irrational and lead to suboptimal outcomes,\u201d focusing too much on what we\u2019ve already invested<\/a> (proverbial spilled milk) instead of considering the future and end point. It ends up being a \u201cvicious cycle\u201d because, until we pull the plug, we\u2019re likely to continue investing the resources we feel bad about wasting, making it exponentially more difficult to call it quits.<\/p>\n

#3- \u201cThat could never happen to me.\u201d<\/strong> One of the common cognitive biases \u2014 which is particularly prevalent among younger people \u2014 is the optimism bias<\/a>. This fallacy is seen when we (incorrectly) assume that we\u2019re less susceptible to negative events and more likely to experience positive events than the general average. It\u2019s often seen in risk-taking behavior in younger people, who could drive recklessly but be irrationally confident that they won\u2019t get into an accident, or take up smoking with the conviction they won\u2019t face adverse health effects.<\/p>\n

So how do we address these biases?<\/strong> As the old adage goes, admitting you have a problem is the first step to recovery. Studies<\/a> have shown that awareness of cognitive biases decreases their effects. To go further, integrate others into your decision-making process since research<\/a> has also shown that collaboration, particularly in diverse groups, mitigates bias. Finally, try to identify all the factors going into your decision-making process before giving the final ok.<\/p>\n","protected":false},"excerpt":{"rendered":"

Our brain: A flawed masterpiece. On average, our minds go through 74GB of information every day, with a constant stream of information from all the different devices we use, on top of the information-dense surroundings of urban spaces, according to a research analysis (pdf). To put that figure into perspective, it\u2019s the equivalent of 16 […]<\/p>\n","protected":false},"author":1,"featured_media":580135,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8361],"tags":[633,8360,322],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-580134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-psychology","tag-enterprisepm","tag-psychology","tag-science","wpautop","entry"],"acf":{"mongo_id":"ef3a221d-c79f-408b-919d-73fb5a86ddbe","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/666.jpg","photo_position":"above","related_issue":[580116],"teaser":"","voice_url":""},"yoast_head":"\nOur brain is tricking us for efficiency: Heuristics and cognitive biases in decision-making - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/our-brain-is-tricking-us-for-efficiency-heuristics-and-cognitive-biases-in-decision-making\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Our brain is tricking us for efficiency: Heuristics and cognitive biases in decision-making\" \/>\n<meta property=\"og:description\" content=\"Our brain: A flawed masterpiece. 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