Hot Hand Fallacy
The mistaken belief that a person who has experienced success in a random event has a higher probability of further success in additional attempts.
21 topics found for
“rational decision-making”
Rationalism
A philosophy that emphasizes reason and logic as the primary sources of knowledge and truth.
Numerosity Bias
The tendency to perceive a greater quantity as a better value, regardless of the actual utility.
Pessimism Bias
A cognitive bias that causes people to overestimate the likelihood of negative outcomes.
Allais Paradox
A decision-making paradox that shows people's preferences can violate the expected utility theory, highlighting irrational behavior.
Irrational Escalation
The phenomenon where people continue a failing course of action due to the amount of resources already invested.
Sunk Cost Fallacy
The tendency for individuals to continue a behavior or endeavor as a result of previously invested resources (time, money, or effort) rather than future potential benefits.
Myopic Loss Aversion
A cognitive bias where individuals tend to avoid risks when they perceive potential losses more acutely than potential gains.
Belief Bias
The tendency to judge the strength of arguments based on the believability of their conclusions rather than the logical strength of the arguments.