Bryce Hoffman writes about leadership, strategy, and decision making. The hot-hand fallacy is a cognitive bias that leads individuals to believe that a person who has experienced success with a ...

Bryce Hoffman writes about leadership, strategy, and decision making. The base rate fallacy is a cognitive bias that causes us to ignore or undervalue general information and instead focus on data ...

Five of the most severe cognitive biases that impact an entrepreneurial trajectory are as follows: overconfidence bias, fundamental attribution error, confirmation bias, sunk-cost fallacy ...

WHEN birds fly together, they purposively either take advantage of the strategic aerodynamic V-shaped skein formation or ...

What is the gambler’s fallacy of cognitive biases? The gambler’s fallacy is a specific cognitive bias that involves the belief that independent past events affect independent future events.

Cognitive scientists see motivated reasoning as a force that operates in many domains. Studies by political psychologists highlight denial of climate change or discrediting its science as ...

Cognitive biases and the field of behavioral economics ... the mistakes made due to this bias can be devastating. Sunk Cost Fallacy: While the public markets overwhelmingly had attractive returns ...

The illusion of control is one of the biggest gambler's fallacies. Sure, we can directly impact the outcome in a game of blackjack or optimise the winning potential in video poker, but this does not ...