Decoy Effect
A cognitive bias where consumers change their preference between two options when presented with a third, less attractive option.
A cognitive bias where consumers change their preference between two options when presented with a third, less attractive option.
A cognitive bias where people prefer familiar things over unfamiliar ones, even if the unfamiliar options are objectively better.
The series of actions or operations involved in the acquisition, interpretation, storage, and retrieval of information.
A cognitive bias where a person's subjective confidence in their judgments is greater than their objective accuracy.
A concept in transactional analysis that describes three different aspects of the self: Parent, Adult, and Child, each influencing behavior and communication.
A rule-of-thumb or shortcut that simplifies decision-making and problem-solving processes.
The tendency for individuals to recall information that is consistent with their current mood.
A technique or tool used to lock oneself into following through on a commitment, often by adding a cost to failing to do so.
A behavioral economics model that explains decision-making as a conflict between a present-oriented "doer" and a future-oriented "planner".