Hedonic Adaptation
The observed tendency of humans to quickly return to a relatively stable level of happiness despite major positive or negative events or life changes.
98 topics found for
“economic psychology”
Decision Theory
The study of how individuals make choices among alternatives and the principles that guide these choices.
Availability Heuristic
A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.
Persuasion Architecture
A strategic framework that designs user experiences to guide behavior and decisions towards desired outcomes.
Affective Forecasting
The process of predicting how one will feel in the future, which often involves biases and inaccuracies.
Extension Neglect
A cognitive bias where people ignore the relevance of sample size in making judgments, often leading to erroneous conclusions.
Satisficing
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome.
Irrational Escalation
The phenomenon where people continue a failing course of action due to the amount of resources already invested.
Base Rate Fallacy
A cognitive bias where people ignore general statistical information in favor of specific information.