Question: Cognitive biases are systematic and predictable patterns of errors of cognitive perception (understanding) that can prevent us from making logical, well informed decisions. Required: Choose

Cognitive biases are systematic and predictable patterns of errors of cognitive perception (understanding) that can prevent us from making logical, well informed decisions.

Required:

Choose a real-world example of a black swan event and clearly explain the concept of the bias, the risks it could pose to rational decision making and how it might affect management decision making

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