The influence of cognitive bias on crisis decision-making: Experimental evidence on the comparison of bias effects between crisis decision-maker groups

A crisis requires the affected population, governments or non-profit organizations, as well as crisis experts, to make urgent and sometimes life-critical decisions. With the urgency and uncertainty they create, crises are particularly amenable to inducing cognitive biases that influence decisionmaking. However, there is limited empirical...

Application of cumulative prospect theory in understanding energy retrofit decision: A study of homeowners in the Netherlands

Retrofitting residential buildings can help mitigate the effects of climate change. Cognitive biases are systematic deviations from rationality in decision making and can lead to inaction, delay, and uncertain decisions. Understanding the cognitive biases involved in residential renovation decisions and developing interventions to overcome...