Cognitive Biases and Their Impact on Decision-Making Under Uncertainty

Abstract

This article provides a comprehensive analysis of cognitive biases as a significant psychological phenomenon influencing decision-making processes under conditions of uncertainty. The study explores theoretical approaches to understanding cognitive biases, their nature, and the mechanisms of their formation within the framework of modern cognitive psychology. Particular attention is paid to common types of biases, such as the anchoring effect, availability heuristic, confirmation bias, overconfidence effect, and loss aversion.The paper examines how these biases affect rational thinking, behavioral strategies, and the overall quality of decisions made in situations characterized by limited information, risk, and uncertainty. It also discusses real-life examples of cognitive biases across various domains, including education, social interactions, and professional contexts.Special emphasis is placed on strategies for reducing the negative impact of cognitive biases, such as the development of critical thinking skills, reflective practices, the use of analytical tools, and increased cognitive awareness. The findings highlight the importance of considering human cognitive limitations in the analysis of decision-making processes.