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.
169 topics found for
“bias”
Decision Theory
The study of how individuals make choices among alternatives and the principles that guide these choices.
Winner’s Curse
A phenomenon where the winner of an auction tends to overpay due to emotional competition, leading to a less favorable outcome than anticipated.
Primacy Effect
The tendency for the first items presented in a sequence to be remembered better than those in the middle.
Information Aversion
The tendency to avoid information that one perceives as potentially negative or anxiety-inducing.
Allais Paradox
A decision-making paradox that shows people's preferences can violate the expected utility theory, highlighting irrational behavior.
Affect Heuristic
A mental shortcut where current emotions influence decisions, often bypassing logic and reasoning.
Regret Aversion
A tendency to avoid making decisions that might lead to regret, influencing risk-taking and decision-making behaviors.
Mental Accounting
A behavioral economics concept where people categorize and treat money differently depending on its source or intended use.