Definition: Fake News is false and intentionally misleading information presented as news.
Fake news became almost omnipresent because apparently it works, social media act as a catalyst, little is and can be done to stop it in a free society, and people apparently believe it.
Some reasons why people believe fake news are:
- Confirmation bias.
- Human beings are overconfident and bad at detecting lies.
- Human beings tend to over-rely on shared content.
More on individual decision making: Anchoring Bias, Bayesian Theory, Black Swan Theory, Bounded Rationality, Cognitive Bias, more...
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