The irrational ways that we process information 6 make decisions using our own perspective and incomplete information. Cognitive biases Overprecision Hedonic Adaptation The Endowment Effect

The correct answer is Cognitive biases.<br /><br />Cognitive biases refer to the systematic errors in thinking that can affect our decision-making processes. These biases can lead us to make irrational judgments based on incomplete or skewed information, rather than objective analysis. Some common cognitive biases include confirmation bias (favoring information that confirms our preconceptions), anchoring bias (relying too heavily on the first piece of information we receive), and availability heuristic (making decisions based on information that is easily recalled). By recognizing and understanding these biases, we can strive to make more rational and well-informed decisions.