Identification of Common Heuristics and Cognitive Biases in Product Development: Initial Findings from the Literature

Product development, especially in the era of mass customization, is complex, requiring extensive collaboration, information exchange, and unbiased decision-making which is often suboptimal due to several factors. This study examines the impact of heuristics and cognitive biases on product development. Through a systematic literature review, the research identified 14 common heuristics and 36 cognitive biases associated with the product development process. Additionally, we categorized heuristics and cognitive biases into three perspectives: cognitive biases are the result of heuristics; cognitive biases and heuristics are either effect, and cognitive biases can be generated from the source of information.