Subadditivity Effect
A cognitive bias where the total probability assigned to a set of events is less than the sum of the probabilities assigned to each event individually.
692 topics found for
“psychological principles”
Normalcy Bias
The tendency to believe that things will always function the way they normally have, often leading to underestimation of disaster risks.
Zero Price Effect
A phenomenon where people perceive an item as more valuable when it is free, leading to an increased likelihood of choosing the free item over a discounted one.
Regret Aversion
A tendency to avoid making decisions that might lead to regret, influencing risk-taking and decision-making behaviors.
Integrated Behavior Model
A framework that combines multiple theories to explain and predict behavior, focusing on intention, knowledge, skills, environmental constraints, and habits.
Continuous Improvement
An ongoing effort to improve products, services, or processes over time through incremental and breakthrough improvements.
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.
Endowment Effect
A cognitive bias where people ascribe more value to things merely because they own them.
Paradox of Value
An economic theory that explains why some necessities, such as water, are less expensive than non-essentials, like diamonds, despite their greater utility.