……..It can be dangerous to rely too heavily on what experts call System 1 thinking—automatic judgments that stem from associations stored in memory—instead of logically working through the information that’s available. No doubt, System 1 is critical to survival. It’s what makes you swerve to avoid a car accident. But as the psychologist Daniel Kahneman has shown, it’s also a common source of bias that can result in poor decision making, because our intuitions frequently lead usastray. Other sources of bias involve flawed System 2 thinking—essentially, deliberate reasoning gone awry. Cognitive limitations or laziness, for example, might cause people to focus intently on the wrong things or fail to seek out relevant information.
We are all susceptible to such biases, especially when we’re fatigued, stressed, or multitasking. Just think of a CEO who’s negotiating a merger while also under pressure from lawyers to decide on a plant closing and from colleagues to manage layoffs. In situations like this, we’re far from decision-ready—we’re mentally, emotionally, and physically spent. We cope by relying even more heavily on intuitive, System 1 judgments and less on careful reasoning. Decision making becomes faster and simpler, but quality often suffers.
More here – Harvard Business Review