Opportunity Cost Neglect
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions.
246 topics found for
“user decision-making”
Dual Process Theory
A framework suggesting there are two systems of thinking: System 1 (fast, automatic) and System 2 (slow, deliberate), influencing decision-making and behavior.
Focusing Effect
A cognitive bias where people place too much importance on one aspect of an event, causing errors in judgment.
Intertemporal Choice
The study of how people make choices about what and how much to do at various points in time, often involving trade-offs between costs and benefits occurring at different times.
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.
Pseudocertainty Effect
A cognitive bias where people perceive an outcome as certain while it is actually uncertain, based on how information is presented.
Recency Effect
A cognitive bias where individuals better remember the most recent information they have encountered, influencing decision-making and memory recall.
Proportionality Bias
The tendency to believe that large or significant events must have large or significant causes.
Framing Bias
A cognitive bias where people's decisions are influenced by how information is presented rather than just the information itself.