Outcome Bias in Decision Making

Cognitive Bias
Knowledge Center

 
Cognitive Bias > Forum

New Topic


Gandhi Heryanto
Management Consultant, Indonesia
The fact that something worked doesn't mean it was the result of a correct decision, and the fact that something failed doesn't mean the decision was wrong (Howard Marks, Inspiration from the World of Sports Memo). OUTCOME BIAS When people are judging the quality of leaders’ decisions, they tend to focus much more on outcomes than intentions, a phenomenon that psychologists call "outcome bias". The outcome bias is costly to organizations. It causes employees and leaders to be blamed for negative outcomes even when they had good intentions and used a thoughtful decision-making process, considering all the information that should be taken into account. Organizations and their leaders can benefit from understanding how to help individuals look beyond end results. REDUCING OUTCOME BIAS Ovul Sezer and Max Bazerman of Harvard, Ting Zhang of Columbia and Francesca Gino decided to investigate potential ways to eliminate (or at least reduce) the outcome bias. In a series of studies, wh (...) Read more? Sign up for free

 

More on Cognitive Bias
Summary
Forum
🔥Hindsight Bias
Survivorship Bias
Overview of 180+ Cognitive Biases
How to Avoid Biases in Recruitment and Talent Management
Cognitive Bias Literature
How to Fight Cognitive Bias?
How to Overcome Judgement Noise
Outcome Bias in Decision Making
Perceptions Errors and Cognitive Bias are Similar
What are Heuristics?
Best Practices
Stories About Human Biases 😃
Your Customers, Employees, Managers and Stakeholders are all Irrational: Behavioral Economics
Special Interest Group

Are you interested in Cognitive Bias? Sign up for free

Notify your students

Copy this into your study materials:

and add a hyperlink to:

Link to this discussion

Copy this HTML code to your web site:


Cognitive Bias
Knowledge Center

 


About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
© 2021 12manage - The Executive Fast Track. V15.7 - Last updated: 21-1-2021. All names ™ of their owners.