Applying what we have learned: Understanding and correcting biased judgment

John Ruscio, Elizabethtown College


Decades of research on human judgment and decision making have demonstrated the presence of cognitive biases. This literature has led to a negative view of our judgmental capacities, a view that Krueger (1998) laments. However, the road to a more positive perspective first requires a clearer picture of the extent of bias and of methods for combating it. Rather than continue to debate the existence of biases, we should strive to understand their prevalence and magnitude, catalog them by source, and address them through corrective procedures. Some of Krueger's suggestions appear highly relevant for these goals.