• Journal of The Korean Association For Science Education
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• v.36 no.6
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• pp.935-946
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• 2016

This study aims to explore cognitive biases relating the core competences of science and instructional strategy in reducing the level of cognitive biases. The literature review method was used to explore cognitive biases and science education experts discussed the relevance of cognitive biases to science education. Twenty nine cognitive biases were categorized into five groups (limiting rational causal inference, limiting diverse information search, limiting self-regulated learning, limiting self-directed decision making, and category-limited thinking). The cognitive biases in limiting rational causal inference group are teleological thinking, availability heuristic, illusory correlation, and clustering illusion. The cognitive biases in limiting diverse information search group are selective perception, experimenter bias, confirmation bias, mere thought effect, attentional bias, belief bias, pragmatic fallacy, functional fixedness, and framing effect. The cognitive biases in limiting self-regulated learning group are overconfidence bias, better-than-average bias, planning fallacy, fundamental attribution error, Dunning-Kruger effect, hindsight bias, and blind-spot bias. The cognitive biases in limiting self-directed decision-making group are acquiescence effect, bandwagon effect, group-think, appeal to authority bias, and information bias. Lastly, the cognitive biases in category-limited thinking group are psychological essentialism, stereotyping, anthropomorphism, and outgroup homogeneity bias. The instructional strategy to reduce the level of cognitive biases is disused based on the psychological characters of cognitive biases reviewed in this study and related science education methods.

• Journal of Information Science Theory and Practice
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• v.8 no.2
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• pp.18-31
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• 2020

Cognitive biases can influence human information behaviour and decisions made in information behaviour and use. This study aims to identify the biases involved in some aspects of information behaviour and the role they play in information behaviour and use. Twenty-five semi-structured face-to-face interviews were conducted in an exploratory qualitative study with graduate (MA and PhD) students who were at the stage of their dissertation/thesis research. Eisenberg & Berkowitz Big6^TM Skills for Information Literacy was adopted as a framework for interviews and the analysis was done using grounded theory coding method. The findings revealed the presence of twenty-eight biases in different stages of information behaviour, including availability bias (affects the preference for information seeking strategies), attentional bias (leads to biased attention to some information), anchoring effect (persuades users to anchor in special parts of information), confirmation bias (increases the tendency to use information that supports one's beliefs), and choice-supportive bias (results in confidence in information seeking processes). All stages of information seeking were influenced by some biases. Biases might result in a lack of clarity in defining the information needs, failure in looking for the right information, misinterpretation of information, and might also influence the way information is presented.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.185-196
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• 2023

This paper investigates the effects of entrepreneurs' cognitive biases on business opportunity evaluation, given their strong entrepreneurial spirit, which is characterized by innovation, proactivity, and risk-taking. When making decisions related to business activities, entrepreneurs typically make rational judgments based on their knowledge, experience, and the advice of external experts. However, in situations of extreme stress or when quick decisions are required, they often rely on heuristics based on their cognitive biases. In particular, we often see cases where entrepreneurs fail because they make decisions based on heuristics in the process of evaluating and selecting new business opportunities that are planned to guarantee the growth and sustainability of their companies. This study was conducted in response to the need for research to clarify the effects of entrepreneurs' cognitive biases on new business opportunity evaluation, given that the cognitive biases of entrepreneurs, which are formed by repeated successful experiences, can sometimes lead to business failure. Although there have been many studies on the effects of cognitive biases on entrepreneurship and opportunity evaluation among university students and general people who aspire to start a business, there have been few studies that have clarified the relationship between cognitive biases and social networks among entrepreneurs. In contrast to previous studies, this study conducted empirical surveys of entrepreneurs only, and also conducted research on the relationship with social networks. For the study, a survey was conducted using a parallel survey method using online mobile surveys and self-report questionnaires from 150 entrepreneurs of small and medium-sized enterprises. The results of the study showed that 'overconfidence' and 'illusion of control', among the independent variables of entrepreneurs' cognitive biases, had a statistically significant positive(+) effect on business opportunity evaluation. In addition, it was confirmed that the moderating variable, social network, moderates the effect of overconfidence on business opportunity evaluation. This study showed that entrepreneurs' cognitive biases play a role in the process of evaluating and selecting new business opportunities, and that social networks play a role in moderating the structural relationship between entrepreneurs' cognitive biases and business opportunity evaluation. This study is expected to be of great help not only to entrepreneurs, but also to entrepreneur education and policy making, by showing how entrepreneurs can use cognitive biases in a positive way and the influence of social networks.

• Korean System Dynamics Review
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• v.5 no.1
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• pp.127-142
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• 2004

Feedback loop dominance is a key concept to understand structural driving forces of system behavior. In this paper, we propose two kinds of shifts in dominant feedback loops: continuous shifts (CS) and discrete shifts (DS). With the help of questionnaires, we verified three hypotheses regarding cognitive biases in perceiving the shifts in dominant feedback loops: 1) failure in perceiving continuous shifts, 2) tendency of decision making based on discrete shifts, and 3) different perception on the dominant feedback loops between level variables and rate variables. We discussed the implication of these cognitive biases on time delay and timing strategy in decision-making processes.

• The Journal of the Korea Contents Association
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• v.14 no.11
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• pp.411-421
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• 2014

This study investigated the effect of cognitive narrowing on the consumers' belief biases in the light of the escape theory. Current study researched the relationship between the cognitive narrowing and the consumers' belief biases. The result of this study is as below. The degree of the consumers' belief biases is higher when the degree of the cognitive narrowing is higher than lower. On the basis of this result, theoretical and practical implications were suggested and the limitations and future research were discussed.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1231-1240
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• 2021

A shift in perspective from standard finance to behavioral finance has taken place in the past two decades that explains how cognition and emotions are associated with financial decision making. This study aims to investigate the influence of various psychological factors on investment decision-making. The psychological factors that are investigated are differentiated into two aspects, cognitive and emotional aspects. From the cognitive aspect, we examine the influence of anchoring, representativeness, loss aversion, overconfidence, and optimism biases on investor decisions. Meanwhile, from the emotional aspect, the influence of herding behavior on investment decisions is analyzed. A quantitative approach is used based on a survey method and a snowball sampling that result in 165 questionnaires from individual investors in Yogyakarta. Further, we use the One-Sample t-test in testing all hypotheses. The research findings show that all of the variables, anchoring bias, representativeness bias, loss aversion bias, overconfidence bias, optimism bias, and herding behavior have a significant effect on investment decisions. This result emphasizes the influence of behavioral factors on investor's decisions. It contributes to the existing literature in understanding the dynamics of investor's behaviors and enhance the ability of investors in making more informed decision by reducing all potential biases.

• Asia pacific journal of information systems
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• v.26 no.2
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• pp.290-298
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• 2016

Human cognition and decision-making related to information systems (IS) is a major area of interest in IS research. Among these areas, cognitive bias rooted in behavioral economics is gaining considerable attention from researchers. In the present study, we identify the role of cognitive biases and discuss how they shape the information security behavior. We also seek research opportunities to provide directions and implications for future research.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.303-308
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• 2020

Unlike previous studies of overconfidence bias that have been looking for causes of overconfidence bias in human cognitive error or in the desire to view oneself positively, this study presents the cognitive narrowing resulting from the social exclusion experience as the condition of overconfidence bias and investigates the mechanism of cognitive narrowing to overcome the negative emotions from social exclusion, and how overconfidence bias occur due to cognitive narrowing. Current study was performed with 94 undergraduate students. Participants were randomly assigned to social exclusion experience group or non-experience group. We analyzed how the degree of bias of overconfidence differs according to the social exclusion experience. The degree of overconfidence bias of the social exclusion experience group was higher than that of the non-experience group, and the difference was statistically significant. This study extends the concepts of escaping theory and cognitive narrowing to human cognitive bias and confirmed that social exclusion experience increased cognitive narrowing and overconfidence bias. Implications of this research and future research directions were discussed.

• Nuclear Engineering and Technology
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• v.28 no.5
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• pp.467-481
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• 1996

An integrated framework of modeling the human operator cognitive behavior during nuclear power plant accident scenarios is presented. It incorporates both plant and operator models. The basic structure of the operator model is similar to that of existing cognitive models, however, this model differs from those existing ones largely in too aspects. First, using frame and membership function, the pattern matching behavior, which is identified as the dominant cognitive process of operators responding to an accident sequence, is explicitly implemented in this model. Second, the non-task-related human cognitive activities like effect of stress and cognitive biases such as confirmation bias and availability bias, are also considered. A computer code, OPEC is assembled to simulate this framework and is actually applied to an SGTR sequence, and the resultant simulated behaviors of operator are obtained.

• Human Ecology Research
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• v.56 no.5
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• pp.447-460
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• 2018

This study determines whether certain cognitive biases (i.e., time preference, goal attainment expectation, unrealistic optimism, and overconfidence) and a specific negative mood-state (i.e., anxiety) influence credit misuse among college students. Data were collected from fourth-year college students (N=1,146), all of whom attended the same university in the southwest United States. Hierarchical multiple regression analyses and moderator analyses were employed to test the research hypotheses. Results showed that specific cognitive biases and anxiety were directly associated with credit misuse. We found that the longer goal attainment was delayed, the greater the students' unrealistic optimism concerning future income; in addition, the more overconfident they became with respect to financial knowledge, the more frequently they engaged in credit misuse. The study also showed that the higher a student's level of anxiety, the more often that students engaged in credit misuse. We also found that cognitive bias factors and anxiety interact to influence credit misuse. Anxiety interacted with time preference and unrealistic optimism such that present-oriented time preference was negatively related to credit misuse while optimism toward future income was positively related to credit misuse, but only for students with high anxiety levels. The findings of this study are discussed in the context of understanding and preventing irresponsible financial behavior among young adults.