Piracy is on the rise off the coast of Somalia again and there’s evidence that perhaps the maritime industry may have itself to blame. Indeed, the recent Somali hijacking of the Aris 13, a Comoros-flagged fuel tanker belonging to a Greek company, should be a wake-up call to the shipping industry that complacency is dangerous.
How so? It seems that the maritime industry is a lot like many of us individually, prone to assumption, judgment, and common cognitive biases including confirmation bias, where we over value information that confirms our existing beliefs and salience bias, where we overweight evidence that is recent and vivid.
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