Allais Paradox
A decision-making paradox that shows people's preferences can violate the expected utility theory, highlighting irrational behavior.
148 topics found for
“complex decisions”
Representativeness
Representativeness is a heuristic in decision-making where individuals judge the probability of an event based on how much it resembles a typical case.
Cost-Benefit
An analysis comparing the costs and benefits of a decision or project to determine its feasibility and value.
Opportunity Cost Neglect
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions.
Naive Allocation
A heuristic where individuals evenly distribute resources across all options, regardless of their specific needs or potential.
Behavioral Strategy
The use of behavioral science insights to inform and guide strategic decision-making in organizations.
Dashboard Design
The process of creating an interface that displays key performance indicators and metrics in a visually accessible way.
Mapping
The process of creating visual representations of data or information to enhance understanding and decision-making.
Paradox of Choice
The phenomenon where having too many options leads to anxiety and difficulty making a decision, reducing overall satisfaction.