How does confirmation bias affect decision-making?

Confirmation bias is a cognitive phenomenon where individuals tend to favor information that supports their preexisting beliefs or hypotheses while actively ignoring or dismissing evidence that contradicts those beliefs. This bias can significantly impact decision-making by leading people to make judgments based primarily on selective information, rather than considering a comprehensive view of all relevant data.

When decision-makers experience confirmation bias, they may only seek out or remember information that affirms their current opinions, and they might disregards facts that might challenge their views. This can result in a distorted perception of reality, influencing both personal choices and professional judgments in ways that may not be grounded in truth or balanced understanding. Hence, the element of overlooking contradictory evidence showcases the detrimental impact of confirmation bias on objective decision-making processes.