The Most Common Biases in Business Decisions

If you’ve been following me for any length of time, you’ll know that one of topics that I write about the most is cognitive biases. So, when I came across an article on the Harvard Business Review that neatly wrapped up some of the more common biases in business decisions, I just had to comment on it. I agree […]

The Sunk Cost Trap on TV: Fitzgerald Grant and Olivia Pope

A few months ago on the popular TV series “Scandal,” the fictional President of the United States fell into the sunk cost trap: We have to get Olivia back, not just because I love her, not just because having her out there is a threat to national security. There are soldiers who are never coming home […]

Meditation Mitigates Effects of Cognitive Biases

There have been thousands of scholarly articles written about the myriad benefits of meditation, but the one I came across recently was one of the first that confirmed one of my previously held beliefs: meditation helps you make better decisions. The thing that struck me most about this study were the similarities to an experiment […]

Ignore Sunk Costs: List of Biases in Judgment and Decision-Making, Part 1

It can be really fun to write a series of posts on a particular topic. By my count, I’ve done this at least seven times so far. Today, I’d like to start what I hope will be an oft-read series on biases in judgment and decision-making (to some, cognitive biases). Because of my background in […]