Bias Identification & Decision-Making Styles

15 Q&A flashcards covering cognitive biases, vulnerability factors, bias-reduction tactics from Framing Decisions and HBR, and how different decision-making styles influence bias exposure.

What are four common cognitive biases frequently highlighted in decision-making simulations?

Confirmation bias, anchoring bias, availability bias, and overconfidence bias.

Which bias leads people to search for, interpret, and remember information that supports their pre-existing beliefs?

Confirmation bias.

Which bias causes a decision maker to rely too heavily on the first piece of information encountered?

Anchoring bias.

How can high ambiguity in a scenario affect bias vulnerability?

Ambiguity removes clear criteria, so people default to heuristics, increasing susceptibility to cognitive biases.

According to the book “Framing Decisions,” what is the first step in guarding against bias?

Explicitly define the problem and decision frame before analyzing options.

Name two tactics recommended by Harvard Business Review for reducing bias in team decisions.

Appoint a devil’s advocate and conduct a premortem analysis.

What effect does time pressure typically have on susceptibility to bias?

It pushes people toward quick heuristic judgments, heightening bias risk.

Which decision-making style features low ambiguity tolerance and emphasizes technical detail and systematic analysis?

Analytical style.

Which decision-making style relies heavily on collaboration and values interpersonal relationships?

Behavioral style.

How might a directive decision-making style increase vulnerability to certain biases?

Its emphasis on speedy, decisive action can amplify anchoring and confirmation biases.

What is a premortem analysis?

A forward-looking exercise in which a team assumes a decision has failed and works backward to uncover potential weaknesses and biases.

Why does actively seeking disconfirming evidence help guard against bias?

It challenges initial assumptions, directly counteracting confirmation bias.

What does the term “bias blind spot” mean?

The tendency to detect cognitive biases in others more readily than in oneself.

How can decision checklists reduce errors linked to bias?

Checklists standardize evaluation criteria and slow down rapid judgments, minimizing heuristic shortcuts.

What link exists between tolerance for ambiguity and susceptibility to anchoring bias?

Higher ambiguity tolerance can lessen the urge to cling to an initial anchor, reducing anchoring bias.