In their book, Mind Tools for Managers, James Manktelow and Julian Birkinshaw detail the key skills needed to be a good boss, with avoiding psychological bias being among them. Psychological bias is when you make a decision or take actions that go against systematic logic.

According to Manktelow and Birkinshaw, five common forms of psychological bias to avoid include: 

  • Confirmation bias
  • Anchoring
  • Overconfidence bias
  • Gambler’s fallacy
  • Fundamental attribution error.

Find examples of the five forms of bias and how to avoid them in an excerpt from Mind Tools for Managers that was republished in Texas REALTOR® magazine.