Author(s)

YiuYu Yeung ¹

Affiliation(s)

¹ Department of Applied Psychology, Lingnan University, Hong Kong, 000000, China

Corresponding Author

YiuYu Yeung

ABSTRACT

This essay explores the relationship between cognitive biases and decision-making, drawing on relevant literature to support its arguments. Cognitive biases are systematic errors that individuals make in their thinking [16], while decision-making involves evaluating and making choices based on available information [13]. It has been estimated that 70% of all decisions made by humans are affected by cognitive biases [10], highlighting the significance of understanding the relationship between the two concepts in various industries and fields, such as business, healthcare, law, and public policy[4].

KEYWORDS

Cognitive Biases, Decision-making, Confirmation Bias, Sunk cost fallacy

CITE THIS PAPER

YiuYu Yeung, Relationship between Cognitive Biases in Decision-Making. Journal of Sociology and Ethnology (2023) Vol. 5: 28-32. DOI: http://dx.doi.org/10.23977/jsoce.2023.050606.

REFERENCES

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