Alex Sidorenko from RISK-ACADEMY talks about cognitive biases and why it is important for corporate risk managers to understand them and know how to work around them or limit their influence on decision makers. What do you think? – – – – – – – – – – – – – – – – At… Continue reading 92. Why risk managers need to understand cognitive biases
The neglect of probability, a type of cognitive bias, is the tendency to completely disregard probability when making a decision under uncertainty and is one simple way in which people regularly violate the normative rules for decision making. Small risks are typically either neglected entirely or hugely overrated. The continuum between the extremes is ignored.… Continue reading 51. Cognitive biases in risk management – Neglect of probability – Alex Sidorenko
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