Heuristics & Biases in Decision-Making 🧠

Sources:

Tversky, A., & Kahneman, D. (1974). Judgment under Uncertainty: Heuristics and Biases. Science, 185(4157), 1124–1131.

Montibeller, G., & von Winterfeldt, D. (2015). Cognitive and motivational biases in decision and risk analysis. Risk Analysis, 35(7), 1230–1251

International Air Transport Association. (2018). FLYING IS BY FAR THE SAFEST FORM OF TRANSPORT.

Søren Espersen Schrøder, External Lecturer, Copenhagen Business School

00:00: Intro
01:04: Adjustment-and-anchoring-heuristic
02:15: Representativeness-heuristic
03:42: Availability-heuristic
04:19: Sunk cost and escalation of commitment bias
05:40: Confirmation bias & self-serve bias

#psychology #business #bias #heuristic #kahneman #tversky #sunkcost #confirmationbias