Bias

Question 1

Forms of behavioral bias

Answer 1

Cognitive errors (avoid) & Emotional bias (adapt)

Question 2

Cognitive errors

Answer 2

Belief perseverance bias (cognitive dissonance) & processing error

Question 3

Belief perseverance bias (when new info conflicts with previously held belief or cognition)

Answer 3

Conservatism bias (maintain prior views by inadequately incorporating new, conflicting info - cognitive cost is high) & Confirmation bias (tendency to look for & notice what confirms prior belief & ignore info that contradict them) & Representative bias (tendency to classify new info based on past experience & classification) - base rate neglect, sample size neglect & Illusion of control bias & Hindsight bias

Question 4

Processing error (info being processed & used illogically or irrationally)

Answer 4

Anchoring & adjustment bias, Mental accounting bias, Framing bias, Availability bias

Question 5

Emotional bias

Answer 5

Loss aversion bias, overconfidence bias (combines with self attribution bias), Self control bias, status quo bias, Endowment bias, Regret aversion bias,