How do cognitive biases generally affect decision-making?

Cognitive biases are systematic patterns of deviation from norm or rationality in judgment, which can profoundly influence decision-making. They often lead individuals to make choices based on their subjective perceptions rather than objective analysis of actual data or logical reasoning. This tendency can result in various systematic errors in reasoning.

For instance, confirmation bias may cause someone to favor information that confirms their pre-existing beliefs while dismissing information that contradicts them. Anchoring bias can lead a person to rely too heavily on the first piece of information they receive, skewing their subsequent judgments. These examples illustrate how cognitive biases can deviate thought processes, ultimately leading to decisions that may not be well-informed or rational.

In contrast, other options suggest that cognitive biases enhance decision-making or have no significant effect, which neglects the reality of how these biases typically operate. Hence, understanding cognitive biases is essential because they serve as barriers to rational judgment, leading to systematic errors in reasoning and decision-making processes.