Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits.
127 topics found for
“behavioral economics”
Peak End Rule
A cognitive bias where people judge an experience largely based on how they felt at its peak (most intense point) and its end, rather than the total sum of the experience.
Paradox of Choice
The phenomenon where having too many options leads to anxiety and difficulty making a decision, reducing overall satisfaction.
Survivorship Bias
A cognitive bias that occurs when conclusions are drawn from a non-representative sample, focusing only on successful cases and ignoring failures.
Overchoice
The phenomenon where having too many options leads to decision-making paralysis and decreased satisfaction.
Brand Equity
The value a brand adds to a product or service beyond the functional benefits, encompassing factors like brand awareness, perceived quality, and customer loyalty.
Framing Bias
A cognitive bias where people's decisions are influenced by how information is presented rather than just the information itself.
Fast and Frugal Heuristics
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.
Extension Neglect
A cognitive bias where people ignore the relevance of sample size in making judgments, often leading to erroneous conclusions.