Anchoring
Anchoring (also known as Focalism) is a cognitive bias where individuals rely heavily on the first piece of information (the "anchor") when making decisions.
148 topics found for
“decision-making psychology”
Availability Bias
A cognitive bias where people overestimate the importance of information that is readily available.
Myopic Loss Aversion
A cognitive bias where individuals tend to avoid risks when they perceive potential losses more acutely than potential gains.
Behavioral Game Theory
The study of strategic decision making, incorporating psychological insights into traditional game theory models.
Gambler’s Fallacy
A cognitive bias where individuals believe that past random events affect the probabilities of future random events.
Subadditivity Effect
A cognitive bias where the total probability assigned to a set of events is less than the sum of the probabilities assigned to each event individually.
Salience Bias
A cognitive bias where people focus on the most noticeable or prominent information while ignoring less conspicuous details.
Illusory Correlation
The perception of a relationship between two variables when no such relationship exists.
Attention Bias
The tendency for people's perception to be affected by their recurring thoughts at the time.