Survivorship Bias
A cognitive bias that occurs when conclusions are drawn from a non-representative sample, focusing only on successful cases and ignoring failures.
127 topics found for
“economic behavior”
Paradox of Choice
The phenomenon where having too many options leads to anxiety and difficulty making a decision, reducing overall satisfaction.
Brand Equity
The value a brand adds to a product or service beyond the functional benefits, encompassing factors like brand awareness, perceived quality, and customer loyalty.
Overchoice
The phenomenon where having too many options leads to decision-making paralysis and decreased satisfaction.
Framing Bias
A cognitive bias where people's decisions are influenced by how information is presented rather than just the information itself.
Fast and Frugal Heuristics
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.
Extension Neglect
A cognitive bias where people ignore the relevance of sample size in making judgments, often leading to erroneous conclusions.
Repeated Measures Design
A research design where the same participants are used in all conditions of an experiment, allowing for the comparison of different conditions within the same group.
Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits.