2,869
edits
Cognitive biases: Difference between revisions
no edit summary
No edit summary |
No edit summary |
||
| Line 8: | Line 8: | ||
#'''Anchoring Effect''' - the common human tendency to rely too heavily on the first piece of information offered (the “anchor”) when making decisions. | #'''Anchoring Effect''' - the common human tendency to rely too heavily on the first piece of information offered (the “anchor”) when making decisions. | ||
#'''Hindsight Bias''' - the tendency to think that an event was more obvious or predictable than it really was. | #'''Hindsight Bias''' - the tendency to think that an event was more obvious or predictable than it really was. | ||
#'''Sunk Cost Fallacy''' - whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial. | #'''[[Sunk Cost Fallacy]]''' - whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial. | ||
#'''Halo Effect''' - people assume a person or thing is good in every way because of one good characteristic. | #'''Halo Effect''' - people assume a person or thing is good in every way because of one good characteristic. | ||
#'''Scarcity effect''' - makes people more likely to buy something when they think it’s about to run out or be taken away from them. | #'''Scarcity effect''' - makes people more likely to buy something when they think it’s about to run out or be taken away from them. | ||