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The underlying attitudes and stereotypes that people unconsciously attribute to another person or group of people that affect how they understand and engage with them. Many researchers suggest that unconscious bias occurs automatically as the brain makes quick judgments based on past experiences and background. [122] Unit bias
Choice-supportive bias or post-purchase rationalization is the tendency to retroactively ascribe positive attributes to an option one has selected and/or to demote the forgone options. [1] It is part of cognitive science , and is a distinct cognitive bias that occurs once a decision is made.
While similar to the hindsight bias, the two phenomena are markedly different. Hindsight bias focuses on memory distortion to favor the actor, while the outcome bias focuses exclusively on weighting the outcome heavier than other pieces of information in deciding if a past decision was correct.
In some academic disciplines, the study of bias is very popular. For instance, bias is a wide spread and well studied phenomenon because most decisions that concern the minds and hearts of entrepreneurs are computationally intractable. [11] Cognitive biases can create other issues that arise in everyday life.
Hindsight bias decreases one's rational thinking because of when a person experiences strong emotions, which in turn decreases rational thinking. Another negative consequence of hindsight bias is the interference of one's ability to learn from experience, as a person is unable to look back on past decisions and learn from mistakes.
Research from the Harvard Business Review found that software engineering candidates with founder experience whose startups had been successful were 33% less likely to get offered a job interview ...
A related concept to egocentric bias is self-serving bias, in which one takes undue credit for achievements and blames failures on external forces. However, egocentric bias differs from self-serving bias in that egocentric bias is rooted in an erroneous assumption of other's perception of reality, while self-serving bias is an erroneous ...
Cognitive explanations for confirmation bias are based on limitations in people's ability to handle complex tasks, and the shortcuts, called heuristics, that they use. [68] For example, people may judge the reliability of evidence by using the availability heuristic that is, how readily a particular idea comes to mind. [ 69 ]