"Rational decisions" AND "cognitive biases"

Extensive research has consistently demonstrated that humans frequently diverge from rational decision-making processes due to the pervasive influence of cognitive biases. This paper conducts an examination of the impact of cognitive biases on high-stakes decision-making within the context of the joint pediatric cardiology and cardiothoracic surgery conference, offering practical recommendations for mitigating their effects. Recognized biases such as confirmation bias, availability bias, outcome bias, overconfidence bias, sunk cost fallacy, loss aversion, planning fallacy, authority bias, and illusion of agreement are analyzed concerning their specific implications within this conference setting...

A rational decision-making process enables a leader to process information clearly and logically and thus allows for accurate perception and interpretation of the event. It is believed this process prevents leaders from excessively distorting reality and being impacted by cognitive biases, both of which are possible, particularly under stressful conditions. But what happens when the decision-making environment is rapidly changing and the leader does not have time to deploy a thorough, comprehensive rational decision-making process? In time-compressed decision-making environments, leaders must often make quick, accurate decisions, with incomplete, inaccurate, or rapidly changing information, under extremely stressful conditions...

Humans are subject to a variety of cognitive biases, such as the framing-effect or the gambler's fallacy, that lead to decisions unfitting of a purely rational agent. Previous studies have shown that the ventromedial prefrontal cortex (vmPFC) plays a key role in making rational decisions and that stronger vmPFC activity is associated with attenuated cognitive biases. Accordingly, dysfunctions of the vmPFC are associated with impulsive decisions and pathological gambling. By applying a gambling paradigm in a between-subjects design with 33 healthy adults, we demonstrate that vmPFC excitation via transcranial direct current stimulation (tDCS) reduces the framing-effect and the gambler's fallacy compared to sham stimulation...

Human economic decision-making sometimes appears to be irrational. Partly, this is due to cognitive biases that can lead to suboptimal economic choices and context-dependent risk-preferences. A pertinent question is whether such biases are part of our evolutionary heritage or whether they are culturally acquired. To address this, we tested gorillas (Gorilla gorilla gorilla) and orang-utans (Pongo abelii) with two risk-assessment experiments that differed in how risk was presented. For both experiments, we found that subjects increased their preferences for the risky options as their expected gains increased, showing basic understanding of reward contingencies and rational decision-making...

The framing-effect is a bias that affects decision-making depending on whether the available options are presented with positive or negative connotations. Even when the outcome of two choices is equivalent, people have a strong tendency to avoid the negatively framed option. The ventromedial prefrontal cortex (vmPFC) is crucial for rational decision-making, and dysfunctions in this region have been linked to cognitive biases, impulsive behavior and gambling addiction. Using a financial decision-making task in combination with magnetoencephalographic neuroimaging, we show that excitatory compared to inhibitory non-invasive transcranial direct current stimulation (tDCS) of the vmPFC reduces framing-effects while improving the assessment of loss-probabilities, ultimately leading to increased overall gains...

Clinical decision-making (CDM) plays an integral role in the work of a physical therapist and has ramifications for patient outcomes and experience. Rational decision-making - acting in a manner that helps us achieve our goals - is influenced by cognitive, emotional, and social variables. The dual process theory helps us understand how clinicians make what they perceive to be rational decisions. Within dual process is the use of cognitive decisional shortcuts, commonly referred to as 'heuristics,' which are either developed through experience or the use of fast and frugal trees (FFT)...

This work is an initial step toward developing a cognitive theory of cyber deception. While widely studied, the psychology of deception has largely focused on physical cues of deception. Given that present-day communication among humans is largely electronic, we focus on the cyber domain where physical cues are unavailable and for which there is less psychological research. To improve cyber defense, researchers have used signaling theory to extended algorithms developed for the optimal allocation of limited defense resources by using deceptive signals to trick the human mind...

Consumers can have difficulty expressing their buying intentions on an explicit level. The most common explanation for this intention-action gap is that consumers have many cognitive biases that interfere with rational decision-making. The current resource-rational approach to understanding human cognition, however, suggests that brain environment interactions lead consumers to minimize the expenditure of cognitive energy according to the principle of Occam's Razor. This means that the consumer seeks as simple of a solution as possible for a problem requiring decision-making...

Economists traditionally describe individuals as well-informed and rational decision-makers. Recent developments in behavioural economics, which lies at the intersection between psychology and economics, challenge these assumptions and describe the common cognitive biases that affect us all. The resulting decision errors are particularly frequent in health and health care given the predominance of uncertainty and the complexity of choices. Interventions aiming at correcting, or exploiting, these biases to improve decisions of citizens, patients, and health professionals have recently emerged...

Patients with serious or life-threatening illness are frequently asked to make complex, high-stakes medical decisions. The impact of anxiety, low health literacy, asymmetric information and inadequate communication between patients and health care providers, family pressures, rational apathy by health care providers, cognitive biases of both patients and health care providers, and other factors make it quite difficult for patients in these circumstances to process and comprehend the strategic uncertainty and resultant risks and benefits of, and alternatives to, whatever therapeutic or life-prolonging treatment physicians are offering...

BACKGROUND: Behavioral economics is a field of economics that draws on insights from psychology to understand and identify patterns of decision making. Cognitive biases are psychological tendencies to process information in predictable patterns that result in deviations from rational decision making. Previous research has not evaluated the influence of cognitive biases on decision making in a managed care setting. OBJECTIVE: To assess the presence of cognitive biases in formulary decision making...

INTRODUCTION: Although patient safety has improved steadily, harm remains a substantial global challenge. Additionally, safety needs to be ensured not only in hospitals but also across the continuum of care. Better understanding of the complex cognitive factors influencing health care-related decisions and organizational cultures could lead to more rational approaches, and thereby to further improvement. HYPOTHESIS: A model integrating the concepts underlying Reason's Swiss cheese theory and the cognitive-affective biases plus cascade could advance the understanding of cognitive-affective processes that underlie decisions and organizational cultures across the continuum of care...

Cognitive bias can be a serious impediment to rational decision-making by health leaders. We use a hypothetical case study to introduce some basic concepts of bias with examples of mitigation strategies. We argue that the effect of biases should be considered when making every significant administrative decision.

Fundamental to cognitive models of addiction is the gradual strengthening of automatic, urge-related responding that develops in tandem with the diminution of self-control-related processes aimed at inhibiting impulses. Recent conceptualizations of addiction also include a third set of cognitive processes related to self-awareness and superordinate regulation of self-control and other higher brain function. This review describes new human research evidence and theoretical developments related to the multicausal strengthening of urge-related responding and failure of self-control in addiction, and the etiology of disrupted self-awareness and rational decision-making associated with continued substance use...

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BACKGROUND: Theoretical studies predict that it is not possible to eradicate a disease under voluntary vaccination because of the emergence of non-vaccinating "free-riders" when vaccination coverage increases. A central tenet of this approach is that human behaviour follows an economic model of rational choice. Yet, empirical studies reveal that vaccination decisions do not necessarily maximize individual self-interest. Here we investigate the dynamics of vaccination coverage using an approach that dispenses with payoff maximization and assumes that risk perception results from the interaction between epidemiology and cognitive biases...

Models and experiments on adaptive decision-making typically consider highly simplified environments that bear little resemblance to the complex, heterogeneous world in which animals (including humans) have evolved. These studies reveal an array of so-called cognitive biases and puzzling features of behaviour that seem irrational in the specific situation presented to the decision-maker. Here we review an emerging body of work that highlights spatiotemporal heterogeneity and autocorrelation as key properties of most real-world environments that may help us understand why these biases evolved...

Presents a short biography of one of the winners of the American Psychological Association's Award for Distinguished Scientific Early Career Contributions to Psychology. The 2012 winner is Laurie R. Santos for creative and insightful investigations of cognition across a broad range of species and psychological domains, illuminating cognitive development and cognitive evolution. Laurie R. Santos links many branches of psychological inquiry in her research, including animal behavior, comparative psychology, developmental psychology, judgment and decision making, and social psychology...

RATIONALE: Diagnostic reasoning is a critical aspect of clinical performance, having a high impact on quality and safety of care. Although diagnosis is fundamental in medicine, we still have a poor understanding of the factors that determine its course. According to traditional understanding, all information used in diagnostic reasoning is objective and logically driven. However, these conditions are not always met. Although we would be less likely to make an inaccurate diagnosis when following rational decision making, as described by normative models, the real diagnostic process works in a different way...

This article gives a brief introduction to the MacArthur Competence Assessment Tool-Treatment (MacCAT-T) and critically examines its theoretical presuppositions. On the basis of empirical, methodological and ethical critique it is emphasised that the cognitive bias that underlies the MacCAT-T assessment needs to be modified. On the one hand it has to be admitted that the operationalisation of competence in terms of value-free categories, e.g. rational decision abilities, guarantees objectivity to a great extent; but on the other hand it bears severe problems...