No, the term cognitive bias suggests that someone is picking actions that are not correct according to his utility function.
If a person is corrupt and acts in his interests that’s no cognitive bias in the sense I understand the term to be used in psychology.
I agree, it’s essentially different. It has to do with misaligned goals (AKA perverse incentives), similar to the principle-agent problem and the concept of lost purposes. This is all related to the tails-come-apart phenomenon as well, in that tails-come-apart is like a statistical version of the statement “you cannot serve two masters”.
No, the term cognitive bias suggests that someone is picking actions that are not correct according to his utility function. If a person is corrupt and acts in his interests that’s no cognitive bias in the sense I understand the term to be used in psychology.
I agree, it’s essentially different. It has to do with misaligned goals (AKA perverse incentives), similar to the principle-agent problem and the concept of lost purposes. This is all related to the tails-come-apart phenomenon as well, in that tails-come-apart is like a statistical version of the statement “you cannot serve two masters”.