BIAS

Bias is an inclination or outlook to present or hold a partial perspective, often accompanied by a refusal to consider the possible merits of alternative points of view. Biases can be learned implicitly within cultural contexts. People may develop biases toward or against an individual, an ethnic group, a nation, a religion, a social class, a political party, theoretical paradigms and ideologies within academic domains, or a species. Biased means one-sided, lacking a neutral viewpoint, or not having an open mind. Bias can come in many forms and is related to prejudice and intuition.

In science and engineering, a bias is a systematic error. Statistical bias results from an unfair sampling of a population, or from an estimation process that does not give accurate results on average.

A cognitive bias is a repeating or basic misstep in thinking, assessing, recollecting, or other cognitive processes. That is, a pattern of deviation from standards in judgment, whereby inferences may be created unreasonably. People create their own "subjective social reality" from their own perceptions, their view of the world may dictate their behaviour. Thus, cognitive biases may sometimes lead to perceptual distortion, inaccurate judgment, illogical interpretation, or what is broadly called irrationality. However some cognitive biases are taken to be adaptive, and thus may lead to success in the appropriate situation. Furthermore, cognitive biases may allow speedier choices when speed is more valuable than precision. Other cognitive biases are a "by-product" of human processing limitations, coming about because of an absence of appropriate mental mechanisms, or just from human limitations in information processing.

Anchoring is a psychological heuristic that describes the propensity to rely on the first piece of information encountered when making decisions. According to this heuristic, individuals begin with an implicitly suggested reference point (the "anchor") and make adjustments to it to reach their estimate. For example, the initial price offered for a used car sets the standard for the rest of the negotiations, so that prices lower than the initial price seem more reasonable even if they are still higher than what the car is worth.

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Wikipedia