This is an interesting topic that is educational in its own right and highly applicable to our everyday lives.
For those who are interested in the topic, I recommend readings in the broad fields of judgement and decision making. There are cognitive, social and other approaches in these subjects. Biases in decision making has long history. Depending on the approach, decision making can be analyzed from different contexts.
One helpful point to note that decision biases should not simply be looked at as problematic processes. There is much useful value to them. Some researchers argue that these biases are evolutionary and impart useful tools.
Just a glimpse into this vastly interesting topic.