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Cognitive Biases and Logic

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Availability Heuristic

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The availability heuristic is a mental shortcut that relies on immediate examples that come to a person’s mind when evaluating a specific topic, concept, method, or decision, often leading to overestimation of the likelihood of certain events.

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Confirmation Bias

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Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs, leading to statistical errors by disregarding evidence that would challenge the hypothesis.

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Survivorship Bias

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Survivorship bias is the logical error of focusing on the people or things that made it past some selection process and overlooking those that did not, often leading to false conclusions in different areas, including risk analysis.

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Hindsight Bias

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Hindsight bias, or the 'knew-it-all-along effect', causes individuals to see past events as being more predictable than they actually were, potentially affecting risk assessment and decision-making in probabilistic reasoning.

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Fundamental Attribution Error

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The fundamental attribution error is the tendency to over-emphasize personality-based explanations for behaviors observed in others while under-emphasizing situational explanations, potentially affecting the credit given for success or failure in mathematical outcomes.

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Dunning-Kruger Effect

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The Dunning-Kruger effect is a cognitive bias in which people with low ability at a task overestimate their ability, which can be particularly skewed in fields requiring high levels of logical reasoning, such as mathematics.

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Belief Bias

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Belief bias is the tendency to judge the strength of arguments based on the believability of their conclusions rather than how strongly they support the conclusion, potentially leading to acceptance of invalid conclusions in logical and mathematical reasoning.

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Gambler’s Fallacy

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The Gambler’s fallacy is the erroneous belief that if a particular event occurs more frequently than normal during the past, it is less likely to happen in the future, and vice versa, in situations where the events are actually independent.

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Neglect of Probability

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Neglect of probability is the tendency to completely disregard probability when making a decision under uncertainty, often leading to over or underestimation of the likelihood of outcomes.

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Anchoring Bias

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Anchoring bias occurs when individuals rely too heavily on an initial piece of information (the 'anchor') when making decisions, which can skew problem-solving and result in inaccurate numerical estimates.

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Illusory Superiority

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Illusory superiority is a cognitive bias whereby individuals overestimate their own qualities and abilities, relative to others, particularly in cognitive tasks such as logical reasoning or problem-solving.

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Overconfidence Effect

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The overconfidence effect is when someone’s subjective confidence in their own ability is greater than their objective accuracy, often leading to errors in calculations or flawed logical reasoning.

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