Cognitive bias is a limitation in objective thinking that is caused by the tendency for the

human brain to perceive information through a filter of personal experience and

preferences. The filtering process is called heuristics; it’s a coping mechanism that
allows the brain to prioritize and process the vast amount of input it receives each
second. While the mechanism is very effective, its limitations can cause errors that can
be exploited.   
      
It may not be totally possible to eliminate the brain’s predisposition to take shortcuts, but
understanding that bias exists can be useful when making decisions.  A continually
evolving list of cognitive biases has been identified over the last six decades of research
on human judgment and decision-making in cognitive science, social psychology and
behavioral economics. They include:

1. Anchoring effect – the tendency for the brain to rely too much on the first
instance of information it received when making decisions later on.
2. Availability bias – the tendency for the brain to conclude that a known instance
is more representative of the whole than is actually the case.
3. Bandwagon effect – the tendency for the brain to conclude that something must
be desirable because other people desire it.
4. Bias blind spot – the tendency for the brain to recognize another’s bias but not
its own.
5. Clustering illusion – the tendency for the brain to want to see a pattern in what
is actually a random sequence of numbers or events.
6. Confirmation bias – the tendency for the brain to value new information that
supports existing ideas.
7. Framing effect – the tendency of the brain to arrive at different conclusions
when reviewing the same information depending upon how the information is
presented.
8. Group think – the tendency for the brain to place value on consensus. 
9. Negativity bias – the tendency for the brain to subconsciously place more
significance on negative events than positive ones. This bias probably evolved as
a survival technique. Assuming the worst of a situation that turns out not to be
dangerous is much safer than not expecting danger that turns out to be present.
10. Recency bias – the tendency for the brain to subconsciously place more value
on the last information it received about a topic.
11. Sunk cost effect – the tendency for the brain to continue investing in something
that clearly isn’t working in order to avoid failure.
12. Survivorship bias – the tendency for the brain to focus on positive outcomes in
favor of negative ones. A related phenomenon is the ostrich effect, in which
people metaphorically bury their heads in the sand to avoid bad news.