• Anchit Goyal

A cognitive bias refers to a systematic (that is- a non-random and, thus, predictable) deviation from rationality in judgment or decision-making (Blanco, 2017). This implies that humans tend to deviate from the traditional concept of the ‘homo-economicus’ and can thus be irrational. They can pick an option that defies rational logic as they presume it to be the ‘correct’ option. This paper focuses on the existence of one such bias - The Perceptual Bias, which explains how people tend to associate the height of a glass with the quantity of liquid it holds. In other words, a tall glass creates an illusion of greater quantity than a glass that is shorter and wider but holds the same quantity. People associate parameters of the glass, such as the quantity it holds, based on sensory inputs, such as sight. This paper also shows that when a tall glass and a short glass are presented individually, the bias is observed, however, when shown together to the same person, it spawns the idea of a comparison, and the effect of the perceptual bias is no longer observed.

Behavioural Economics; Economics; Perceptual Bias; Applied Psychology

"The Role of Perceptual Bias in Estimating Quantities", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 11, page no.592-603, November-2020, Available :http://www.jetir.org/papers/JETIR2011372.pdf

"The Role of Perceptual Bias in Estimating Quantities", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 11, page no. pp592-603, November-2020, Available at : http://www.jetir.org/papers/JETIR2011372.pdf