Illusory Correlation
The perception of a relationship between two variables when no such relationship exists.
299 topics found for
“decision-making in design”
Placing Bets
A strategic approach where multiple potential solutions are tested to identify the most promising one.
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.
SWOT Analysis
Strengths, Weaknesses, Opportunities, and Threats (SWOT) is a strategic planning tool that is applied to a business or project.
Standard Economic Model
A theoretical framework in economics that assumes individuals act rationally and seek to maximize utility, used to predict economic behavior and outcomes.
Attention Bias
The tendency for people's perception to be affected by their recurring thoughts at the time.
Machine Learning
A type of artificial intelligence that enables systems to learn from data and improve over time without being explicitly programmed.
XAI
Explainable AI (XAI) are AI systems that provide clear and understandable explanations for their decisions and actions.
AI Transparency
The degree to which the operations and decisions of an AI system are understandable and explainable to users.