Intertemporal Choice
The study of how people make choices about what and how much to do at various points in time, often involving trade-offs between costs and benefits occurring at different times.
362 topics found for
“decision-making”
Escalation of Commitment
A cognitive bias where individuals or organizations continue to invest in a failing project or decision due to the amount of resources already committed.
Hyperbolic Discounting
A cognitive bias where people disproportionately prefer smaller, immediate rewards over larger, later rewards.
Certainty Effect
A cognitive bias where people give greater weight to outcomes that are certain compared to those that are merely probable.
Dual Process Theory
A framework suggesting there are two systems of thinking: System 1 (fast, automatic) and System 2 (slow, deliberate), influencing decision-making and behavior.
Proportionality Bias
The tendency to believe that large or significant events must have large or significant causes.
Risk-as-Feelings Theory
A theory that emphasizes the role of emotions in risk perception and decision-making, where feelings about risk often diverge from cognitive assessments.
Overconfidence Effect
A cognitive bias where a person's subjective confidence in their judgments is greater than their objective accuracy.
Scenario Mapping
A method used to create detailed narratives of potential future events to explore and understand possible outcomes and inform decision-making.