Causes of Cognitive Bias- Time Is of the Essence

Time seems to be a constant theme in our lives. When we are young, we can’t wait for time to go by, wanting to become adults, have jobs, and be someone of importance. Then when we reach the lacklustre reality of it all, and we wish for time to speed up so we can get to retirement to enjoy our older years like we so richly deserve.

However, somewhere in there, between the meetings and the marriage, the children and the corporate meetings, we realize that time is actually finite. 

There is no real difference when it comes to decisions. No matter what model we use, no one, not even a computer, could sit and go through every single option for the issue at hand. While some things might seem like they are cut and dry, statistically speaking, that is not the case. It would take multiple lifetimes just to decide what you wanted for breakfast if you had to think of every option out there.

Considering your life is a pretty important resource that would run out long before you actually finished looking at the choices – and you’d be pretty hungry. 


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