What is a cognitive bias?

A: A preference for one type of thinking over another

B: A systematic pattern of thinking that deviates from logic or good judgement

C: A form of prejudice based on race or gender

D: The tendency to think too slowly under pressure

Correct: A systematic pattern of thinking that deviates from logic or good judgement

A cognitive bias is a systematic error in thinking — a predictable way our reasoning goes wrong. Unlike random mistakes, biases occur consistently across people and situations. They often arise from mental shortcuts (heuristics) our brains use to make quick decisions. Understanding biases doesn't make you immune to them, but it can help you catch yourself and think more carefully in important situations.

You read an article that confirms what you already believe about a topic. You feel reassured and don't look for other perspectives. What bias does this describe?

A: The availability heuristic

B: Confirmation bias

C: The sunk cost fallacy

D: Hindsight bias

Correct: Confirmation bias

Confirmation bias is the tendency to seek out, favour, and remember information that confirms what we already believe, while ignoring or downplaying evidence that challenges it. It affects everyone — including scientists and experts — and is partly responsible for the persistence of misinformation. Social media algorithms can amplify confirmation bias by serving us content that matches our existing views, creating "echo chambers."

The anchoring effect means that the first number or piece of information we encounter disproportionately influences our subsequent judgements.

Answer: True

Anchoring is the tendency to rely too heavily on the first piece of information offered when making decisions. In a classic demonstration, people asked "Is the population of Turkey more or less than 35 million?" subsequently estimated a lower population than those asked "Is it more or less than 100 million?" — even though the question had the same answer. Anchoring is widely used in negotiation, pricing, and advertising.

You've spent three hours on a terrible film. You consider leaving but think, "I've already invested so much time." What fallacy is this?

A: The gambler's fallacy

B: The availability heuristic

C: The sunk cost fallacy

D: Optimism bias

Correct: The sunk cost fallacy

The sunk cost fallacy is the tendency to continue a course of action because of previously invested resources — time, money, effort — even when stopping would be the rational choice. The three hours you've already spent can't be recovered regardless of what you do next. Rational decision-making should be based only on future costs and benefits, not past investment. This fallacy keeps people in bad jobs, relationships, and investments far longer than is wise.

After an event has happened, people tend to believe they "knew it all along." What is this called?

A: Hindsight bias

B: Overconfidence bias

C: The halo effect

D: The recency effect

Correct: Hindsight bias

Hindsight bias — "I knew it all along" — is the tendency, after an event has occurred, to see it as having been predictable. It makes past events seem far more foreseeable than they actually were, which can lead to unfair criticism of decision-makers and a failure to learn from genuine surprises. It also gives us false confidence in our ability to predict the future.

Being aware of a cognitive bias means you are no longer susceptible to it.

Answer: False

Unfortunately, knowing about biases offers only limited protection against them. Even researchers who study cognitive biases in their professional lives are affected by them. Biases often operate below conscious awareness, and the feeling of being objective is itself part of the problem. While awareness helps — especially when combined with deliberate strategies like seeking out contradictory evidence — it doesn't make you immune.