What can be a consequence of cognitive biases during decision-making?

Cognitive biases can significantly influence decision-making by causing individuals to interpret information in a manner that aligns with their pre-existing beliefs and emotions, ultimately leading to distorted perceptions and errors in judgment. These biases often operate subconsciously, affecting how information is perceived and processed. For example, confirmation bias leads individuals to favor information that confirms their existing beliefs while disregarding conflicting data.

As a result, decisions made under the influence of cognitive biases are often not based on an accurate assessment of the situation but rather on a skewed viewpoint that fails to take into account all relevant evidence. This can lead to poor choices, whether in personal matters, professional contexts, or when evaluating risks and benefits, demonstrating how cognitive biases impair our ability to think critically and make rational decisions.