Regret Aversion
A tendency to avoid making decisions that might lead to regret, influencing risk-taking and decision-making behaviors.
235 topics found for
“decision-making process”
Decision Paralysis
A state of overthinking and indecision that prevents making a choice, often due to too many options or uncertainty.
Recognition Heuristic
A cognitive shortcut that relies on the recognition of one option over another to make a decision, often used when individuals have limited information.
Opportunity Cost Neglect
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions.
Hick’s Law
A principle that states the time it takes to make a decision increases with the number and complexity of choices available.
Decision Fatigue
The deteriorating quality of decisions made by an individual after a long session of decision making, due to mental exhaustion.
Information Bias
A cognitive bias where people seek out more information than is needed to make a decision, often leading to analysis paralysis.
Omission Bias
A cognitive bias where people judge harmful actions as worse, or less moral, than equally harmful omissions (inactions).
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.