Introduction
Cognitive biases refer to systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion. These biases are often a result of the brain’s attempt to simplify information processing. They can have a significant impact on decision-making processes, leading individuals to make choices that are not necessarily in their best interest or based on accurate information.
Background of Study
The study of cognitive biases and their influence on decision-making has gained increasing attention in recent years, as researchers seek to understand the underlying mechanisms that drive human behavior. By examining how these biases manifest in various contexts, such as in the workplace, financial markets, and healthcare settings, we can gain insights into how they affect the quality of decisions made by individuals and organizations.
Problem Statement
Despite the growing body of research on cognitive biases, there is still much to learn about their impact on decision-making processes. Many studies have focused on identifying different types of biases, but there is a need to delve deeper into how these biases interact with one another and how they can be mitigated or overcome.
Objective of Study
The main objective of this thesis is to explore the various cognitive biases that influence decision-making and to examine their effects on individual and organizational outcomes. By identifying these biases and understanding how they shape our perceptions and choices, we can develop strategies to minimize their negative impact and improve the quality of decision-making.
Limitation of Study
This study is limited by the available research on cognitive biases and decision-making. While efforts have been made to include a diverse range of sources and perspectives, there may be biases or gaps in the literature that could impact the findings and conclusions of this thesis.
Scope of Study
This thesis will focus on a comprehensive review of the literature on cognitive biases and their influence on decision-making, as well as an empirical investigation into how these biases manifest in real-world settings. The study will also explore potential strategies for mitigating the effects of biases and improving decision-making processes.
Significance of Study
Understanding cognitive biases and their influence on decision-making is essential for individuals and organizations seeking to make informed choices and achieve their goals. By raising awareness of these biases and their implications, this thesis aims to contribute to the development of more effective decision-making strategies and practices.
Structure of the Thesis
Chapter 1: Introduction
1.1 Introduction
1.2 Background of Study
1.3 Problem Statement
1.4 Objective of Study
1.5 Limitation of Study
1.6 Scope of Study
1.7 Significance of Study
1.8 Structure of the Thesis
1.9 Definition of Terms
Chapter 2: Literature Review
2.1 Overview of Cognitive Biases
2.2 Types of Cognitive Biases
2.3 Theoretical Frameworks
2.4 Empirical Studies
2.5 Biases in Decision-Making
2.6 Biases in Various Contexts
2.7 Impact of Biases on Outcomes
2.8 Strategies for Mitigating Biases
2.9 Critiques and Controversies
2.10 Gaps in the Literature
Chapter 3: Research Methodology
3.1 Research Design
3.2 Data Collection
3.3 Data Analysis
3.4 Sampling Techniques
3.5 Variables and Measures
3.6 Research Instruments
3.7 Ethical Considerations
3.8 Limitations of the Study
Chapter 4: Discussion of Findings
4.1 Overview of Findings
4.2 Analysis of Results
4.3 Interpretation of Results
4.4 Comparison with Existing Literature
4.5 Implications for Practice
4.6 Recommendations for Future Research
4.7 Strengths and Limitations
Chapter 5: Conclusion and Summary
5.1 Summary of Findings
5.2 Conclusions
5.3 Contributions to the Field
5.4 Practical Implications
5.5 Recommendations for Decision-Makers
5.6 Future Directions
5.7 Final Thoughts
Thesis Overview
Cognitive biases are inherent in the human decision-making process and can have significant implications for individuals and organizations. This thesis aims to explore the various types of biases that influence decision-making, examine their effects in different contexts, and propose strategies for mitigating their impact. By reviewing the existing literature, conducting empirical research, and analyzing the findings, this study seeks to contribute to our understanding of how biases shape our choices and behaviors. Through a comprehensive exploration of cognitive biases and their influence on decision-making, this thesis aims to provide valuable insights for practitioners, policymakers, and researchers seeking to improve the quality of decisions made in various settings.
