This paper examines how business and financial decision making are influenced by behavioral biases such as cognitive ease, overconfidence, herding and the endowment effect. I do this in two ways. First, I show historical examples of irrational decisions and the detrimental effects on the individual, society, the company, and shareholders from these decisions. Second, I conduct a survey of business students to examine how susceptible they are to behavioral biases. I find that most students are in fact allowing cognitive easing to alter their decisions negatively.
Armenia, Gianmarco, "Lazy Thinking: How Cognitive Easing Affects the Decision Making Process of Business Professionals" (2013). Honors College Theses. 126.