Debiasing
Identifying and removing biases that affect our decision-making process.
Debiasing is the technnique of identifying and removing the biases that can affect our decision-making.
Types of biases
- Confirmation bias
It is the tendency to search for, interpret, favor, and recall information in a way that confirms or supports one’s preexisting beliefs or hypotheses.
Example: Considering the price increase of past 2 days as a trend and buying things in bulk today with a belief that prices will continue to increase in future.
- Confidence bias
It is the tendency to avoid warning signs and proceeding with the decision making.
Example: My proposed solution is the best winning one and I know there are no other solutions which is the best.
To debias confidence bias, imagine yourself in future with failed decision and think about what could have been done differently to avoid the failure.
- Stability bias
It is the tendency to stick to a mindset which worked in past.
Example: Using the same strategy which worked in past for a new problem.
Debiasing stability bias is by listing the main constraints of the current problem and being open to see if a new idea can be applied to it. Also analysing from a different point of view (PoV) from relevant people and designing a new strategy is useful.
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