Common Theoretical Causes of Some Cognitive Biases
- Bounded rationality – limits on optimization and rationality
- Prospect theory
- Mental accounting
- Adaptive bias – basing decisions on limited information and biasing them based on the costs of being wrong.
- Attribute substitution – making a complex, difficult judgment by unconsciously substituting it by an easier judgment
- Attribution theory
- Salience
- Naïve realism
- Cognitive dissonance, and related:
- Impression management
- Self-perception theory
- Heuristics, including:
- Availability heuristic – estimating what is more likely by what is more available in memory, which is biased toward vivid, unusual, or emotionally charged examples
- Representativeness heuristic – judging probabilities on the basis of resemblance
- Affect heuristic – basing a decision on an emotional reaction rather than a calculation of risks and benefits
- Some theories of emotion such as:
- Two-factor theory of emotion
- Somatic markers hypothesis
- Introspection illusion
- Misinterpretations or misuse of statistics; innumeracy.
A 2012 Psychological Bulletin article suggested that at least eight seemingly unrelated biases can be produced by the same information-theoretic generative mechanism that assumes noisy information processing during storage and retrieval of information in human memory.
Read more about this topic: List Of Biases In Judgment And Decision Making
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