April 24, 2011

Looking back at the the mini project (RDM)

Having read some literature on robust decision making and looking back at the mini project of RDM, I noticed bias in some areas of our decision making. These bias included the confirmation trap, overconfidence and anchoring. It is quite interesting for me that while making the decisions, I didn't notice those biases but now after carefully considering all parts of the decision making, I have realized the presence of bias in them. I think that bias is inadvertently always going to be present in all the decisions we make but it is very important to reflect on the decisions we make and be aware of the bias, so that we might not repeat the same mistake over again. Even in all the decisions we make in our daily life, it is important to keep on reflecting and realizing where bias was present in them, in order to improve the quality of our decision making.

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