Take the Best Heuristic
A decision-making rule where individuals choose the option with the highest perceived value based on the first good reason that comes to mind, ignoring other information.
127 topics found for
“behavioral economics”
Certainty Effect
A cognitive bias where people give greater weight to outcomes that are certain compared to those that are merely probable.
Anchoring
Anchoring (also known as Focalism) is a cognitive bias where individuals rely heavily on the first piece of information (the "anchor") when making decisions.
Ambiguity Effect
A cognitive bias where decision-making is affected by the lack of information or uncertainty.
System One
A mode of thinking, derived from Dual Process Theory, that is fast, automatic, and intuitive, often relying on heuristics and immediate impressions.
Framing
The way information is presented to users, which can significantly influence their decisions and perceptions.
Focusing Effect
A cognitive bias where people place too much importance on one aspect of an event, causing errors in judgment.
Availability Heuristic
A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.
Availability Bias
A cognitive bias where people overestimate the importance of information that is readily available.