Confirmation Bias

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Summary

What is a Confirmation Bias? Meaning.

Confirmation Bias is the human tendency to search for, select ("Selection Bias"), or interpret information in a way that confirms one's preconceptions.


It is a phenomenon wherein decision makers have been shown to actively seek out and assign more weight to evidence that confirms their hypothesis, and ignore or under weigh evidence that could disconfirm their hypothesis.  It is a human tendency that is particularly relevant for strategists and marketers.

 

It is one particular form of cognitive bias in judgment and decision making and is related to anchoring bias and status quo bias.


Types of Confirmation Bias? Forms.

Two main forms or types of this human tendency are the Halo Effect and the Horn Effect.


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🔥 NEW Horn Effect Bias
The horn effect is a type of cognitive bias - more specifically confirmation bias - that causes one's perception of anot (...)
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Quotes on Confirmation Bias. Quotations
Hi, do you know of a remarkable, humorous quote by a famous person or a proverb related to searching for or interpreting (...)
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Best Practices

The top-rated topics about the Confirmation Bias. Here you will find the most valuable ideas and practical suggestions.


Expert Tips

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Dangers of Categorical Thinking

Decision-making, Strategy, Strategic Thinking
Categorization, taking in voluminous amounts of messy data and then simplifying and structuring it so that you can make (...)

How to Avoid Being Misguided by Experience-based Biases

Analogical Strategic Reasoning, Decision-making, Cognitive Bias, Bandwagon Effect, Confirmation Bias, Anchoring
We often make decisions based on past experiences and judge the future. However, our past experience can sometimes misgu (...)

How to Use Counterintuition to Fight 5 Frequent Decision Making Errors

Strategic Decision Making, Dealing with Complexity, Dealing with Uncertainty, Strategy
Mauboussin describes five mistakes in decision making that are often made and result in making the wrong decisions. Thes (...)
Information Sources

Various sources of information regarding the Confirmation Bias. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.


How to Improve your Strategic Decision Making?

Strategic Decision Making, Cognitive Bias, M&A, Corporate Finance
In this video Michael Mauboussin, Credit Suisse's Head of Financial Strategies, briefly explains parts of Philip E. Tetl (...)

Top 5 Strategy Pitfalls

Strategy Errors, Strategy Traps, Strategy Barriers, Strategic Planning, Strategy Process
Strategy is complex and companies are making many mistakes while working on it. Stuart Cross identified 5 frequent strat (...)

Hearing versus Listening

Communicating Effectively, Active Listening, Coaching, Mentoring
A comprehensive presentation about listening and how to do it well. Includes a scheme of the steps in the listening pro (...)

Critical Thinking in Decision Making

Critical Thinking, Testing Assumptions, Avoiding Fallacies, Avoiding Biases, Dealing with Emotions
Presentation about critical thinking for decision making, including the following sections: 1. Failure of Imagination (...)

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Compare also: Analogical Strategic Reasoning  |  Hawthorne Effect  |  Black Swan Theory

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