Decision errors and traps.
Availability bias.
- bases a decision on recent information or events.
Representativeness bias.
- bases a decision on similarity to other situations.
Anchoring and adjustment bias.
- bases a decision on incremental adjustment from a prior decision point.
Framing error.
- trying to solve a problem in the context in a positive or negative context.
Confirmation error.
- focusing on information that confirm a decision already made.
Escalating commitment.
- continuing a course of action even though it is not working.