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• W4207017717 abstract "The author reviewed the research on the impact of cognitive biases on professionals' decision-making in four occupational areas (management, finance, medicine, and law). Two main findings emerged. First, the literature reviewed shows that a dozen of cognitive biases has an impact on professionals' decisions in these four areas, overconfidence being the most recurrent bias. Second, the level of evidence supporting the claim that cognitive biases impact professional decision-making differs across the areas covered. Research in finance relied primarily upon secondary data while research in medicine and law relied mainly upon primary data from vignette studies (both levels of evidence are found in management). Two research gaps are highlighted. The first one is a potential lack of ecological validity of the findings from vignette studies, which are numerous. The second is the neglect of individual differences in cognitive biases, which might lead to the false idea that all professionals are susceptible to biases, to the same extent. To address that issue, we suggest that reliable, specific measures of cognitive biases need to be improved or developed." @default.
• W4207017717 created "2022-01-26" @default.
• W4207017717 creator A5023508104 @default.
• W4207017717 date "2022-01-04" @default.
• W4207017717 modified "2023-10-15" @default.
• W4207017717 title "The Impact of Cognitive Biases on Professionals’ Decision-Making: A Review of Four Occupational Areas" @default.
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