The entrepreneur is no immune to such biases.
Five of the most severe cognitive biases that impact an entrepreneurial trajectory are as follows: overconfidence bias, fundamental attribution error, confirmation bias, sunk-cost fallacy, and the bandwagon effect.
Overconfidence BiasOverconfidence bias, called by Nobel Laureate Daniel Kahneman as the mother of all the biases, should be our starting point.
She would gloss over the hygiene checks, would place far more unnecessary bets, and make callous calls, allowing to the overconfidence bias.
So, we have these five (and certainly more) cognitive biases, namely, overconfidence bias, fundamental attribution error, confirmation bias, sunk-cost fallacy, and bandwagon effect; and many of these are difficult to appreciate in the real time. | To read full story, visit https://startuparound.com/read/1574560806.4671903/5-Cognitive-Biases-Every-Entrepreneur-Must-Get-Over-With?ref=audio_experience