What does "confirmation bias" refer to in decision-making?

Confirmation bias refers to the tendency individuals have to seek out, interpret, and remember information in a way that confirms their existing beliefs or hypotheses. This cognitive bias affects the decision-making process by leading individuals to favor evidence that aligns with their current views, while often disregarding or undervaluing information that contradicts them.

In decision-making, confirmation bias can result in distorted logic, reinforcement of erroneous beliefs, and the neglect of alternative perspectives or data. By prioritizing information that confirms preconceived notions, individuals may overlook critical insights that could lead to more balanced and well-informed decisions.

The other options address different aspects of decision-making and cognitive processes. Seeking diverse viewpoints is a valuable approach to ensure comprehensive understanding and avoid biases. Remembering conflicting information can contribute to a more nuanced perspective but is less about bias and more about cognitive awareness. Making decisions based on statistical data can lead to rational outcomes, but it doesn’t directly relate to the concept of confirmation bias.