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.
A phenomenon where the winner of an auction tends to overpay due to emotional competition, leading to a less favorable outcome than anticipated.
The degree to which users feel they have control over their actions and decisions when interacting with a product or system.
A cognitive bias that causes people to overestimate the likelihood of negative outcomes.
A mental shortcut where current emotions influence decisions, often bypassing logic and reasoning.
A psychological phenomenon where people remember uncompleted or interrupted tasks better than completed tasks.
A cognitive bias where people disproportionately prefer smaller, immediate rewards over larger, later rewards.
A phenomenon where information is better remembered if it is generated from one's own mind rather than simply read.
The mistaken belief that a person who has experienced success in a random event has a higher probability of further success in additional attempts.
The phenomenon where people follow the direction of another person's gaze, influencing their attention and behavior.