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.
362 topics found for
“decision-making”
Paradox of Choice
The phenomenon where having too many options leads to anxiety and difficulty making a decision, reducing overall satisfaction.
Scenario Mapping
A method used to create detailed narratives of potential future events to explore and understand possible outcomes and inform decision-making.
Priming
A psychological effect where exposure to one stimulus influences the response to a subsequent stimulus, without conscious guidance or intention.
Hindsight Bias
A cognitive bias where people perceive past events as having been more predictable than they actually were.
Pseudocertainty Effect
A cognitive bias where people perceive an outcome as certain while it is actually uncertain, based on how information is presented.
Prospect Theory
A behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known.
Focusing Effect
A cognitive bias where people place too much importance on one aspect of an event, causing errors in judgment.
Clustering Illusion
A cognitive bias where people see patterns in random data.