How do psychological factors such as cognitive biases and emotional responses impact decision-making processes in high-stakes environments?

Psychological factors like cognitive biases and emotional responses significantly impact decision-making in high-stakes environments by distorting perception, reducing rationality, and increasing susceptibility to errors. Biases such as overconfidence, anchoring, and confirmation bias can lead to flawed judgments, while emotional responses like stress and anxiety can impair cognitive function and result in suboptimal decisions.

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