Consider how the problems of cognitive bias might have influenced this Assignment

Consider how the problems of cognitive bias might have influenced this observation - Assignment Example Blue cars are not the only fats cars in Britain but boy racers have continuously selected them. This phenomenon can be associated with cognitive bias. People around us such as politicians, friends, politicians, expert and salesmen among others tend to influence our decision making by providing information that leads to their expectations (Stanovich & West 2000). This leads us to various forms of bias such as Confirmation, in-group, Gamblers fallacy, observational selection, post-purchase rationalization, and bandwagon effect biases among others other (Campbell 2010). One, two or more cognitive biases could have led boy racers in Britain to choose blue cars. Confirmation bias makes people agree with others who have similar opinion (Campbell 2010). Many people feel better while in the group of others who share same ideas and are insecure while in group of people sharing different ideas. A boy racer feels better while with other racers owning blue race cars. Blue cars may not be the fastest but no one among the racers is able to believe that there are faster cars bearing other color. As long as they keep that opinion that blue cars a re very fast, they will remain to use them. Racers may have also developed in-group bias. This is the bias associated by people who stay close together or those who have similarities in beliefs or origin (Finucane et al 2000). The fact that the boy racers are tied together by their age bracket and their fast driving habits, they have developed a close bond among them which makes them make similar choices as far as cars are concerned. This bias has led to their overestimation of blue cars’ ability to move faster than any other car. Gambler’s fallacy bias may have also influence their choice of blue car (Sides et al 2002). This is a type of bias that leads people to believe that past events influences future outcomes. If in the fast several blue cars won