Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean.
127 topics found for
“behavioral economics”
Decision Utility
The value or satisfaction derived from a decision, influencing the choices people make.
Information Bias
A cognitive bias where people seek out more information than is needed to make a decision, often leading to analysis paralysis.
Status Quo Bias
A cognitive bias that leads individuals to prefer things to remain the same rather than change, often resisting new options or changes.
Familiarity Bias
A cognitive bias where people prefer familiar things over unfamiliar ones, even if the unfamiliar options are objectively better.
Reciprocity
A social norm of responding to a positive action with another positive action, fostering mutual benefit and cooperation.
Pseudocertainty Effect
A cognitive bias where people perceive an outcome as certain while it is actually uncertain, based on how information is presented.
Bounded Rationality
A concept that humans make decisions within the limits of their knowledge, cognitive capacity, and available time, leading to satisficing rather than optimal solutions.
Take the Best Heuristic
A decision-making rule where individuals choose the option with the highest perceived value based on the first good reason that comes to mind, ignoring other information.