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Question 27.8: Give three examples of cognitive biases.

Give three examples of cognitive biases.

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Examples of cognitive biases are (a) anchoring (making too small adjustments to an initial estimate), (b) availability (recent information given too much weight), (c) representativeness (placing too much reliance on experience when it is limited or not representative of a current situation), and (d) inverting the conditionality.

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