Question

what are judgement shortcuts and how they lead to biases and error our decision making???

Answer 1

Shortcuts and their related biases and errors can be ordered into five significant groups:

1)  Comfort Biases

We maintain a strategic distance from circumstances and information that may bring tension, stress, trouble or uncertainty. Let's see how: we value things more when they have a place with us; we like to experience (or at times put forth an attempt to look for) information that affirms what we as of now think; by a similar token, we ignore information that conflicts with what we believe; we are bound to pick an elective that isn't at the external scopes of the choices we've considered; we settle on decisions or trust in results that are lovely to imagine instead of relying on the realities; we like to continue our routines in any event, when we think, or even know, that they are never again working; and, by and large, we modify how we see reality in request to cause ourselves to feel progressively comfortable.

2) Perception Biases

Our convictions are contorted by our defective perceptions. We see things from our very own, social, as well as expert point and find it extremely hard to understand them from with a better point of view than the one with which we are generally well-known; we see designs in the information or totally ignore unforeseen information; we stay on information that is later, striking or helpful; we experience issues detaching from an information or information grapple once it has been set up; we overestimate what we know (and disparage what we don't have a clue); we offer various responses to a similar inquiry on the off chance that it is presented in various manners.

3) Motivation Biases

Judgment tampers motivations. Let's see how: we act contrastingly when we are being watched; we recollect our decisions as better than they really were; we consider transient results more than long haul outcomes when taking action; we will, in general, ascribe our prosperity to internal elements (our capacity or ability) and credit inability to outside components (misfortune, too troublesome an assignment or another person's deficiency); we may act in a way that is inverse to what is recommended in request to shield ourselves from saw constraints in the opportunity of decision.

4) Errors in Reasoning

We don't follow great reasoning and wind up reaching incorrect resolutions. We believe that we can control results (despite the fact that we may realize we can't); we base the believability of contention on how it is introduced; we steer away from risk however are happy to accept potentially greater risk in request to dodge a definite misfortune; we incline toward eliminating a little risk than reducing a huge risk.

5) Groupthink

Adding group elements to our judgment procedure invites another layer of bends. Think about that: group individuals treat each other better than they treat outcasts; group individuals reinforce each other's convictions; group individuals accept they concur regardless of whether they don't; group individuals markdown arrangements that include not been brought into the world inside the group.