Availability Heuristic
A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.
212 topics found for
“informed decision-making”
Business Acumen
The ability to understand and deal with various business situations, making sound decisions to ensure successful outcomes.
Information Processing
The series of actions or operations involved in the acquisition, interpretation, storage, and retrieval of information.
McNamara Fallacy
The error of making decisions based solely on quantitative observations and ignoring all other factors.
Illusion of Validity
A cognitive bias where individuals overestimate the accuracy of their judgments, especially when they have a lot of information.
Recognition Heuristic
A cognitive shortcut that relies on the recognition of one option over another to make a decision, often used when individuals have limited information.
Bounded Rationality
A concept that humans make decisions within the limits of their knowledge, cognitive capacity, and available time, leading to satisficing rather than optimal solutions.
Recency Effect
A cognitive bias where individuals better remember the most recent information they have encountered, influencing decision-making and memory recall.
Framing Bias
A cognitive bias where people's decisions are influenced by how information is presented rather than just the information itself.