Anchor Pricing
A pricing strategy where a high-priced option is introduced first to set a reference point, making other options seem more attractive in comparison.
468 topics found for
“user behavior”
Risk-as-Feelings Theory
A theory that emphasizes the role of emotions in risk perception and decision-making, where feelings about risk often diverge from cognitive assessments.
Serial Position Effect
A cognitive bias where people tend to remember the first and last items in a series better than those in the middle, impacting recall and memory.
Reciprocal Altruism
A behavior in which an individual provides a benefit to another with the expectation that the favor will be returned in the future, fostering mutual cooperation and long-term relationships.
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.
Crowding Out Effect
The phenomenon where external incentives diminish intrinsic motivation, leading to reduced performance or engagement.
Decision Tree
A tree-like model of decisions and their possible consequences, used in data mining and machine learning for both classification and regression tasks.
Normal Data Distribution
A symmetrical, bell-shaped distribution of data where most observations cluster around the mean.
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.