Debiasing techniques, of which there are a large variety, are used to improve decision making by limiting the impact of biases on the part of the decision-maker. It only limits the introduction of biases but can never totally eliminate them.
For managers to introduce debiasing techniques, they need to accept that biases may have been introduced in their decision paths and that they are willing to correct the biases.
The debiasing techniques can be divided into three types:
- Cognitive, leading decision makers to change the manner of conceptualizing problems
- Motivational, which modify incentives or punishments
- Technological, which involve artificial intelligence.
The best known debiasing technique consists of getting decision makers to consider the opposite of their conclusions before taking a final decision and asking themselves if there is anything wrong in making that decision.
Incentives or punishments may be financial or psychological. For example, offering one’s decisions to criticism before their implementation is one way of debiasing them.
The increased complexity of situations for which decisions need to be taken have introduced artificial intelligence as a debiasing tool, in particular when calculations are involved.