The Effects of Cognitive Bias Awareness, Feedback, Confidence, Academic Expectations, Study Habits, and Self-Perceived Knowledge on Decision-Making Behaviors of Students

Abstract

This study investigates the effects of cognitive bias awareness, feedback and adaptation, career confidence, academic expectations, study habits, and self-perceived knowledge on the decision-making and risk-taking behaviors of students at a higher educational level. For the study’s purposes, the data were collected through a structured questionnaire from a sample of 435 respondents from the tertiary students of Bangladesh, who were chosen through the stratified random sample technique to produce a diverse representation. Then, demographic analyses were conducted, and a multiple regression approach was used to estimate the significance of the predictors. We found significant impacts on decision-making behavior from cognitive bias awareness, feedback and adaptation, future career confidence, study habits and effort, and self-perceived knowledge. The results indicate a need for educational interventions in the area of self-assessment, study skills, and cognitive bias awareness. This research is significant in that it provides information for policymakers, educators, and institutions that can be used to develop programs that raise their students’ preparedness and their orientation towards success.