Cognitive Bias

A recent Horizon program aired on the BBC dealt with the subject of Cognitive Bias or the conflict in our minds of intuition over logic. Kahneman & Tversky introduced the subject in the nineteen-seventies, identifying two types of rationale. System 1 reflects our swift, snap judgements that require little effort providing simple solutions to our daily needs. It gives almost instantaneous responses. System 2 on the other hand requires more judgemental time where we weigh more complex problems in our mind.
Unfotunately our snap decisions are prone to error because our minds are full of inherent biases, 150 of which have been identified.
At the risk of committing 'confirmation' bias, (  see wikipedia ) I wonder whether we can identify Systems 1 & 2 with the The Davies Hypothesis that posits that consciousness is defined by the three modes of time operating in the brain. 'Real' and 'unreal' time in the brain operate at a fixed rate set by the expansion of the universe but 'imaginary' time can vary giving rise to different perceptions. Could it be that System 1 decision making is related to 'imaginary' time working in the brain in the same way that it deals with shock and intuitive reaction, often needed in sports. System 2 thinking follows the process of information gathering (understanding), reference to memory (knowledge) and rational thought leading to wisdom.