ABSTRACT
This chapter focuses on the root causes, mechanics, and ultimately the impact of cognitive biases, in their many forms, on individual decision-making. The truly interesting point is the decision-guiding precision of card counting-derived information is relatively low, ultimately just enabling players to develop more refined expectations regarding the likely composition of the mix of cards in the shoe – in essence, it just tightens the estimated probability ranges. A natural extension of learning and remembering considerations is the usage of one’s long-term memories. Much of what and how we do to function as humans, as members of the society or as professionals, is driven by the totality of learned conscious and subconscious responses. As astounding as human brain’s computational capabilities are, they are ultimately finite, which at times necessitates information processing trade-offs. As a result, when presented with a large amount of inputs, the brains will often make use of decision heuristics, or shortcuts.
