Hot Hand Fallacy
The mistaken belief that a person who has experienced success in a random event has a higher probability of further success in additional attempts.
169 topics found for
“bias”
Myopic Loss Aversion
A cognitive bias where individuals tend to avoid risks when they perceive potential losses more acutely than potential gains.
Hard-Easy Effect
A cognitive bias where people overestimate the probability of success for difficult tasks and underestimate it for easy tasks.
Extension Neglect
A cognitive bias where people ignore the relevance of sample size in making judgments, often leading to erroneous conclusions.
Halo Effect
A cognitive bias where the perception of one positive trait influences the perception of other unrelated traits.
Functional Fixedness
A cognitive bias that limits a person to using an object only in the way it is traditionally used.
Subadditivity Effect
A cognitive bias where the total probability assigned to a set of events is less than the sum of the probabilities assigned to each event individually.
Law of the Instrument
Also known as "Maslow's Hammer," a cognitive bias where people rely too heavily on a familiar tool or method, often summarized as "if all you have is a hammer, everything looks like a nail.".
Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits.