What are some common types of cognitive biases and their effects?

Common Types of Cognitive Biases

1. Confirmation Bias: People tend to search for, interpret, and remember information that confirms their preconceptions. This leads to reinforcing existing beliefs rather than challenging them.

2. Anchoring Bias: The tendency to rely too heavily on the first piece of information encountered when making decisions, even if it is irrelevant to the decision at hand.

Effects of Cognitive Biases

The effects of cognitive biases can be profound, influencing our beliefs, behaviors, perceptions, and interactions with others. They can hinder objective reasoning, lead to faulty judgments, and impact the overall quality of decision-making processes.

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