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Overcoming Biases and Heuristic

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Is your ability to make rational decisions altered by biases you may have? What heuristic have you used and what are the biases associated with that heuristic? What kind of things could you do to overcome the bias generated by the heuristic?

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Solution Summary

This response looks at how rational decisions are altered by biases and the types of heuristics associated with biases.

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Biases have blocked my ability to make a rational decision in regard to whether or not to invest into a company. The bias was placated upon the fact that the company was owned by a family member, and I had bias toward investing because I wanted to help the family member, which obscured my ...

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