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Common biases that affect an entrepreneur’s decision-making

[Courtesy]

Humans are not as rational as they love to assume.

Everybody has cognitive biases that affect their thinking, memory, and judgement. Cognitive biases form as a result of the brain attempting to simplify information processing. In the book Thinking, Fast and Slow, Daniel Kahneman explains that humans employ a small number of simple and quick rules of thumb in many different situations in order to take a decision as quick as possible under uncertainty.

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