Endowment Effect
A cognitive bias where people ascribe more value to things merely because they own them.
76 topics found for
“relevance perception”
Scarcity
A psychological principle where people place higher value on objects or opportunities that are perceived to be limited or rare.
Focus Groups
A qualitative research method where a small group of people discuss a product, service, or concept to gather diverse insights and opinions.
Difference Threshold
The minimum difference in stimulus intensity that a person can detect, also known as the just noticeable difference (JND).
Illusory Correlation
The perception of a relationship between two variables when no such relationship exists.
Discounted Utility
A concept in behavioral economics that describes how future benefits are perceived as less valuable than immediate ones.
Brand Story
The narrative that communicates the history, mission, and values of a brand, creating an emotional connection with the audience.
Myopic Loss Aversion
A cognitive bias where individuals tend to avoid risks when they perceive potential losses more acutely than potential gains.
Actor-Observer Bias
A cognitive bias that causes people to attribute their own actions to situational factors while attributing others' actions to their character.