Affect Heuristic
A mental shortcut where current emotions influence decisions, often bypassing logic and reasoning.
98 topics found for
“economic psychology”
Zero-Risk Bias
A cognitive bias where people prefer the option that seems to eliminate risk entirely, even if another option offers a greater overall benefit.
Diversification Bias
A cognitive bias where people prefer a greater variety of options when making simultaneous choices compared to sequential choices.
Take the Best Heuristic
A decision-making rule where individuals choose the option with the highest perceived value based on the first good reason that comes to mind, ignoring other information.
Decision Architecture
The design of environments in which people make decisions, influencing their choices and behaviors.
Numerosity Bias
The tendency to perceive a greater quantity as a better value, regardless of the actual utility.
Crowding Out Effect
The phenomenon where external incentives diminish intrinsic motivation, leading to reduced performance or engagement.
Nudging
The act of designing and implementing subtle interventions to influence behavior in a predictable way.
Commitment Device
A technique or tool used to lock oneself into following through on a commitment, often by adding a cost to failing to do so.