Will you ever choose a falling income?

We human beings engage in thinking and decision making in our daily life. It is our ability to solve problems and choose the best course of action, which leads to better outcomes. But we also make systematic errors when we think and at times we don’t even realize. We fail to think clearly because of our emotions such as anger or fear and this leads to wrong decision making as well as avoidable harm.

These systematic errors are known as biases. We can learn, understand to notice these biases within us and around us. Once we know, then we can also take action to avoid these biases, prejudices and beliefs and act to avoid the harm. Biases are systematic and predictable errors we make.