Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/228083
Authors: 
Kucera, Tomas
Year of Publication: 
2020
Series/Report no.: 
IES Working Paper No. 01/2020
Abstract: 
Cognitive biases distort judgement and adversely impact decision-making, which results in economic inefficiencies. Initial attempts to mitigate these biases met with little success. However, recent studies which used computer games and educational videos to train people to avoid biases (Clegg et al., 2014; Morewedge et al., 2015) showed that this form of training reduced selected cognitive biases by 30 %. In this work I report results of an experiment which investigated the debiasing effects of training on confirmation bias. The debiasing training took the form of a short video which contained information about confirmation bias, its impact on judgement, and mitigation strategies. The results show that participants exhibited confirmation bias both in the selection and processing of information, and that debiasing training effectively decreased the level of confirmation bias by 33 % at the 5% significance level.
Subjects: 
Behavioural economics
cognitive bias
confirmation bias
cognitive bias mitigation
confirmation bias mitigation
debiasing
JEL: 
D03
D81
Y80
Document Type: 
Working Paper

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