Nudging
The act of designing and implementing subtle interventions to influence behavior in a predictable way.
148 topics found for
“decision-making psychology”
Information Processing
The series of actions or operations involved in the acquisition, interpretation, storage, and retrieval of information.
Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits.
Probability Matching
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome.
Representativeness
Representativeness is a heuristic in decision-making where individuals judge the probability of an event based on how much it resembles a typical case.
Base Rate Fallacy
A cognitive bias where people ignore general statistical information in favor of specific information.
Irrational Escalation
The phenomenon where people continue a failing course of action due to the amount of resources already invested.
Behavioral Strategy
The use of behavioral science insights to inform and guide strategic decision-making in organizations.
Egocentric Bias
A cognitive bias where people rely too heavily on their own perspective and experiences when making decisions.