• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.303-308
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• 2020

Unlike previous studies of overconfidence bias that have been looking for causes of overconfidence bias in human cognitive error or in the desire to view oneself positively, this study presents the cognitive narrowing resulting from the social exclusion experience as the condition of overconfidence bias and investigates the mechanism of cognitive narrowing to overcome the negative emotions from social exclusion, and how overconfidence bias occur due to cognitive narrowing. Current study was performed with 94 undergraduate students. Participants were randomly assigned to social exclusion experience group or non-experience group. We analyzed how the degree of bias of overconfidence differs according to the social exclusion experience. The degree of overconfidence bias of the social exclusion experience group was higher than that of the non-experience group, and the difference was statistically significant. This study extends the concepts of escaping theory and cognitive narrowing to human cognitive bias and confirmed that social exclusion experience increased cognitive narrowing and overconfidence bias. Implications of this research and future research directions were discussed.

• Journal of The Korean Association For Science Education
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• v.36 no.6
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• pp.935-946
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• 2016

This study aims to explore cognitive biases relating the core competences of science and instructional strategy in reducing the level of cognitive biases. The literature review method was used to explore cognitive biases and science education experts discussed the relevance of cognitive biases to science education. Twenty nine cognitive biases were categorized into five groups (limiting rational causal inference, limiting diverse information search, limiting self-regulated learning, limiting self-directed decision making, and category-limited thinking). The cognitive biases in limiting rational causal inference group are teleological thinking, availability heuristic, illusory correlation, and clustering illusion. The cognitive biases in limiting diverse information search group are selective perception, experimenter bias, confirmation bias, mere thought effect, attentional bias, belief bias, pragmatic fallacy, functional fixedness, and framing effect. The cognitive biases in limiting self-regulated learning group are overconfidence bias, better-than-average bias, planning fallacy, fundamental attribution error, Dunning-Kruger effect, hindsight bias, and blind-spot bias. The cognitive biases in limiting self-directed decision-making group are acquiescence effect, bandwagon effect, group-think, appeal to authority bias, and information bias. Lastly, the cognitive biases in category-limited thinking group are psychological essentialism, stereotyping, anthropomorphism, and outgroup homogeneity bias. The instructional strategy to reduce the level of cognitive biases is disused based on the psychological characters of cognitive biases reviewed in this study and related science education methods.

• Journal of Distribution Science
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• v.18 no.4
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• pp.79-85
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• 2020

Purpose: This study explores how cognitive impairment caused by social exclusion experience can be explained through cognitive narrowing and how it influences consumer's judgment and reasoning and results pseudodiagnosticity bias towards distribution brands. This study examines the characteristics of cognitive narrowing, which is one of the strategies for overcoming the negative emotions resulting from social exclusion, and how cognitive errors called pseudodiagnosticity bias occur due to cognitive narrowing in the evaluation of distribution brands. Research design, data and methodology: Present study was performed with 77 college students in Seoul. Participants were randomly assigned to the group who experienced social exclusion and the group who did not experience social exclusion. The analysis has been made of how the degree of bias of pseudodiagnosticity differs according to the experience of social exclusion by t-test. Results: The group who experienced social exclusion had a higher level of pseudodiagnosticity bias towards distribution brands than the group who did not experience social exclusion. Conclusions: This study confirmed what characteristics of cognitive narrowing, which is one of the strategies for overcoming the negative emotions resulting from social exclusion, and how cognitive errors called pseudodiagnosticity bias occur due to cognitive narrowing. Implications and future research directions were discussed and suggested.

• Asia pacific journal of information systems
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• v.26 no.2
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• pp.290-298
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• 2016

Human cognition and decision-making related to information systems (IS) is a major area of interest in IS research. Among these areas, cognitive bias rooted in behavioral economics is gaining considerable attention from researchers. In the present study, we identify the role of cognitive biases and discuss how they shape the information security behavior. We also seek research opportunities to provide directions and implications for future research.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.18 no.5
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• pp.33-44
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• 2023

Entrepreneurial self-efficacy is an important variable that explains people's attitudes and behaviors toward start-ups. In this study, we focused on individual psychological characteristics variables such as luck in belief and positive cognitive bias that affect entrepreneurial self-efficacy. Among these variables, we paid particular attention to luck in belief. The belief that business success depends on luck is widespread, but scientific verification about it has not been much. The reason for the academic indifference is that luck is a kind of superstition, related to precognition or extrasensory perception, and randomly caused by the external environment. The study of luck began in earnest as a measure to measure luck as an individual characteristic variable such as personality was developed. The purpose of this study is to examine the existing studies on luck in belief and to examine the effect of this luck in belief on positive cognitive bias and entrepreneurial self-efficacy through empirical analysis. For empirical analysis, this study conducted an on-line survey of 400 ordinary people and conducted a structural equation model analysis using AMOS 21.0 to verify the hypothesis. As a result of hypothesis testing, all hypotheses that luck in belief would have a positive effect on positive cognitive bias(self-enhancement bias, illusion of control bias, unrealism optimistic bias) were adopted. The hypothesis that positive cognitive bias(self-enhancement bias, illusion of control bias, unrealistic optimism bias) will have a positive effect on entrepreneurial self-efficacy was also adopted. Additional analysis was conducted to examine the mediating role of positive cognitive bias in the relationship between luck in belief and entrepreneurial self-efficacy, which showed that 'luck in belief→positive cognitive bias →entrepreneurial self-efficacy' were statistically significant. Through this, we confirmed the mediating effect of positive cognitive bias in the relationship between luck in belief and entrepreneurial self-efficacy. In the conclusion, the implications and limitations of the study were presented based on the results of this study.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.4
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• pp.145-153
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• 2014

This study examined the linkage between positive cognitive bias and entrepreneurial intention. Self-enhancement, unrealistic optimism, and illusion of control have been collectively referred as positive cognitive bias. We examined the effects of positive cognitive bias on attitudes toward success and failure. And we also examined the effect of attitudes toward success and failure on entrepreneurial intension. This study investigated these relationships using 240 high school students. The result of analysis indicated that the self-enhancement bias and unrealistic optimism bias had positive effects on attitude toward failure, but it had not any effect on attitude toward success. The illusion of control bias has positive effects on attitude toward success, but it had not any effect on attitude toward failure. The attitudes toward success and failure had positive effect on entrepreneurial intension. Then results of this study suggests that the cognitive biases showed a role of antecedents of attitudes toward success and failure. Finally, this study concluded with a discussion of the implications of the research findings and directions for future research.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.1231-1240
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• 2021

A shift in perspective from standard finance to behavioral finance has taken place in the past two decades that explains how cognition and emotions are associated with financial decision making. This study aims to investigate the influence of various psychological factors on investment decision-making. The psychological factors that are investigated are differentiated into two aspects, cognitive and emotional aspects. From the cognitive aspect, we examine the influence of anchoring, representativeness, loss aversion, overconfidence, and optimism biases on investor decisions. Meanwhile, from the emotional aspect, the influence of herding behavior on investment decisions is analyzed. A quantitative approach is used based on a survey method and a snowball sampling that result in 165 questionnaires from individual investors in Yogyakarta. Further, we use the One-Sample t-test in testing all hypotheses. The research findings show that all of the variables, anchoring bias, representativeness bias, loss aversion bias, overconfidence bias, optimism bias, and herding behavior have a significant effect on investment decisions. This result emphasizes the influence of behavioral factors on investor's decisions. It contributes to the existing literature in understanding the dynamics of investor's behaviors and enhance the ability of investors in making more informed decision by reducing all potential biases.

• Convergence Security Journal
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• v.21 no.1
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• pp.201-208
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• 2021

The purpose of this study is to investigate reunification perception among groups with different cognitive bias(anchoring bias) through empirical studies. This study assumes that cognitive bias occurs according to the content of N. Korea provided in school education, and that the cognitive bias formed in youth creates a difference in perception of N. Korea and reunification. For empirical study, a survey of reunification awareness conducted by the Institute for Peace an Unification Studies-Seoul National University was used, and the two groups are divided into A-group that chose "anti-communism or security" and B-group that did "reunification interests, multi-culturalism and understanding North Korea" according to N. Korea content which was encountered in school education during adolescence. A-group recognized N. Korea as a hostile target even after becoming an adult, while B-group regarded N. Korea as a one of dialogue and cooperation. This analysis illustrates the existence of cognitive bias between the two groups because of N. Korea content which was given in school education. A-group had a lower percentage than B-group in terms of the benefits of reunification to S. Korea and the need for more dialogue and compromise with N. Korea. However, there was no difference between two groups in terms of acceptance of N. Korean defectors. This research result could be a reference to the direction of school education policies relating to reunification in that early school education affects reunification awareness and perception related with N. Korea even in adulthood.

• Journal of the Korea Convergence Society
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• v.8 no.4
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• pp.111-122
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• 2017

The purpose of this study was to develop a computer-based cognitive bias modification program (CBM-I) and to test the efficacy of CBM-I for college students with social anxiety. Forty socially anxious individuals were randomly assigned to the CBM-I(n=21) or a waiting list condition(n=19). Both groups were assessed at the beginning and the end of the program with interpretation bias and social anxiety symptoms(e.g. B=FNE=Brief-Fear of Negative Evaluation Scale, LSAS=Liebowitz Social Anxiety Scale). The CBM-I modified interpretation by providing positive feedback when participants made benign interpretations and negative feedback in response to threat interpretations. Participants in CBM-I completed three computer sessions over three weeks. The CBM-I successfully decreased social anxiety symptoms compared to the control condition(t=2.35, p<.05; t=4.70, p<.001). This result suggests that interpretation modification may have clinical utility when applied as a multi-session intervention.

• Nuclear Engineering and Technology
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• v.28 no.5
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• pp.467-481
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• 1996

An integrated framework of modeling the human operator cognitive behavior during nuclear power plant accident scenarios is presented. It incorporates both plant and operator models. The basic structure of the operator model is similar to that of existing cognitive models, however, this model differs from those existing ones largely in too aspects. First, using frame and membership function, the pattern matching behavior, which is identified as the dominant cognitive process of operators responding to an accident sequence, is explicitly implemented in this model. Second, the non-task-related human cognitive activities like effect of stress and cognitive biases such as confirmation bias and availability bias, are also considered. A computer code, OPEC is assembled to simulate this framework and is actually applied to an SGTR sequence, and the resultant simulated behaviors of operator are obtained.