How does cognitive bias affect decision making?

Biases can improve the quality of decision making.
Biases can lead to flawed reasoning and judgment.
Biases have no impact on decision making.
Biases only affect individual decisions, not group decisions.

Cognitive biases can distort our perception of reality and influence our decision making in various ways. For example, confirmation bias may lead us to seek out information that confirms our preconceptions, while anchoring bias can cause us to rely too heavily on initial information. Understanding these biases is crucial for making more rational and effective decisions.

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