How do cognitive biases affect professionals in administration, finance, justice and medicine?
We have already seen in other articles how we can make mistakes when making decisions under the influence of cognitive biases, which can make us choose what is least beneficial to us. For example, people tend to overestimate the accuracy of their judgments (overconfidence bias), or to perceive events as more predictable once they have already occurred (hindsight bias). It’s not strange, then, that cognitive biases have attracted the attention of experts. While early research on cognitive biases was conducted with lay participants to study the general decision-making process, there seems to have been a great deal of interest in how biases spread to professional decision-making in areas such as management or administration, finance, medicine and justice. ….[READ]
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