Regressive Bias
A cognitive bias where individuals overestimate the likelihood of extreme events regressing to the mean.
235 topics found for
“decision-making process”
Informational Influence
The change in opinions or behavior that occurs when individuals conform to the information provided by others.
Reference Dependence
A cognitive bias where individuals evaluate outcomes relative to a reference point rather than on an absolute scale.
Design Tradeoffs
The compromises made between different design options, balancing various factors like usability, aesthetics, and functionality.
Decoy Effect
A cognitive bias where consumers change their preference between two options when presented with a third, less attractive option.
Fallacy of Composition
A logical fallacy that occurs when one assumes that what is true for a part is also true for the whole.
Moral Luck
A phenomenon where the success or failure of a design or business outcome is influenced by external factors beyond the control of the decision-makers, akin to serendipity.
Digital Twin
A digital replica of a physical entity, used to simulate, analyze, and optimize real-world operations.
HITL
Human in the Loop (HITL) integrates human judgment into the decision-making process of AI systems.