Denomination Effect
A cognitive bias where people are less likely to spend large denominations of money compared to an equivalent amount in smaller denominations.
169 topics found for
“bias”
Opportunity Cost Neglect
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions.
Illusion of Validity
A cognitive bias where individuals overestimate the accuracy of their judgments, especially when they have a lot of information.
Clustering Illusion
A cognitive bias where people see patterns in random data.
Certainty Effect
A cognitive bias where people give greater weight to outcomes that are certain compared to those that are merely probable.
Pseudo Set Framing
The cognitive bias where people treat a set of items as more significant when they are perceived as a cohesive group.
Boundary Extension
A cognitive bias where people remember scenes as being more expansive than they actually were.
Belief Perseverance
The tendency to cling to one's beliefs even in the face of contradictory evidence.
Licensing Effect
A cognitive bias where people allow themselves to indulge after doing something positive, believing they have earned it.