Metacognitive Myopia: A Major Obstacle on the Way to Rationality

Abstract

The notion of metacognitive myopia refers to a conspicuous weakness of the quality control of memory and reasoning processes. Although people are often remarkably sensitive even to complex samples of information when making evaluative judgments and decisions, their uncritical and naive tendency to take the validity of sampled information for granted constitutes a major obstacle to rational behavior. After illustrating this phenomenon with reference to prominent biases (base-rate neglect, misattribution, perseverance), we decompose metacognitive myopia into two distinct but intertwined functions, monitoring and control. We offer explanations for why effectively monitoring the biases resulting from information sampling in an uncertain world is so difficult and why the control function is severely restricted by the lack of volitional control over mental actions. Because of these and other difficulties, metacognitive myopia constitutes a major obstacle to rational judgment and decision making.