Tuesday, 21 May 2019 | 03:24 WIB

Deconstructing Human Irrationality through Behavioral Economics

Professor Richard H. Thaler (wikimedia)

Error Thinking #3 : Confirmaton Bias

This error essentially lies in you being stuck on your favorite choice; thus ignoring alternative options. You just want to read the information that confirms the truth of your favorite choice.

Example: You already like a certain smart phone brand. So while browsing for information about a new smart phone, you are selecting the information you want to read. You tend to focus more on finding information that justifies the power of your favorite smart phone; and ignore the information that criticizes the power of the smart phone.

Confirmation of this bias is very massive occur during the general elections. When you already have a favorite option, then you will only want to read the information that justifies your choice; and are reluctant to read or unexpectedly emotional while reading information that does not fit your choice.

All camps are stuck confirmation bias. Then a rational and objective choice becomes difficult when everyone is stuck with this kind of error thinking.