Part 5 in our “Cognitive Bias and Leadership” On our January 16, 2013 blog, I gave an overview of cognitive bias (our tendency to filter information through our own past experiences, likes, and dislikes) and surmised that it can lead to judgments that are faulty. We have been exploring how these biases affect the ability to lead and make good decisions. In the fifth in our series, I am expanding on the Illusion of Control Bias – the tendency to overestimate your degree of influence over external events. The classic example is gambling…think someone who is convinced they have a system for choosing the right random Keno or lottery numbers. This cognitive bias is a particularly interesting bias to me because unlike other biases, this one has an interesting upside. It can encourage people to take responsibility or to act on something they otherwise wouldn’t. Consider entrepreneurship, which requires real risk taking – the chances of… …