My friend Phil Shapiro, CFO of Babson College, led me to this website. It lists the common forms of cognitive bias.
Each time I look at it, I see another that is prevalent in hospitals. Confirmation bias is certainly one that is found in clinical decision making, as noted by Jerry Groopman. Status quo bias occurs in every walk of life. I bet that CFOs like Phil often are faced with reminding people about sunk cost bias. I particularly like the concept of survivorship bias, forgetting to include firms that no longer exist in research reports when strategic planning takes place!
In the body politic, the bandwagon effect is well known....
