Debiasing Decision Making Through Observational Learning

We find that observational learning, indirectly acquiring attitudes, norms, and skills by observing others, can be an effective debiasing intervention. Participants in a three-hour laboratory experiment (Experiment 1; N = 277) who received an observational learning-based training intervention exhibited a large reduction (overall d = 1.86) from pretest to posttest in their propensity to exhibit three cognitive biases––anchoring,...