How to Better Reduce Confirmation Bias? The Fit Between Types of Counter-Argument and Tasks

Abstract

Confirmation bias is a driver of problematic decision making. People search information supporting current beliefs and ignore real critical evidence. Counter-argument i.e. providing evidences opposite to preferred beliefs was shown to have an effect on reducing confirmation bias. This study advances past studies by separating counter-arguments into two types and examining their effects in different stock investment contexts. We attempt to show that different types of counter-arguments are needed under different decisional contexts.

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