Cognitive Bias in Technology Decisions

Summary

This chapter examines how cognitive biases systematically distort technology evaluation and adoption decisions. Students will learn to recognize confirmation bias, sunk cost fallacy, bandwagon effect, appeal to novelty, anchoring bias, status quo bias, and other biases that affect how organizations evaluate blockchain proposals. The chapter introduces debiasing techniques, critical thinking frameworks, and the hype cycle as tools for more rational technology assessment.

Concepts Covered

This chapter covers the following 17 concepts from the learning graph:

  1. Cognitive Bias
  2. Confirmation Bias
  3. Sunk Cost Fallacy
  4. Bandwagon Effect
  5. Appeal to Novelty
  6. Anchoring Bias
  7. Status Quo Bias
  8. Dunning-Kruger Effect
  9. Halo Effect
  10. Survivorship Bias
  11. Availability Heuristic
  12. Groupthink
  13. Bias Checklist
  14. Debiasing Techniques
  15. Critical Thinking
  16. Hype Cycle
  17. Change Management

Prerequisites

This chapter assumes only the prerequisites listed in the course description. This chapter can be read independently of the technical chapters, though it is most effective after exposure to blockchain claims in Chapters 5-11.

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