Framing
The way information is presented to users, which can significantly influence their decisions and perceptions.
127 topics found for
“behavioral economics”
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.
Impact Bias
The tendency to overestimate the duration or intensity of the emotional impact of future events.
Chivas Regal Effect
The phenomenon where higher-priced products are perceived to be of higher quality, regardless of the actual quality.
Base Rate Fallacy
A cognitive bias where people ignore general statistical information in favor of specific information.
Mid-Tier Value
A pricing strategy that offers a middle option with substantial value at a moderate price, often perceived as the best deal by users.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship.
Worse-Than-Average Effect
A cognitive bias where individuals underestimate their own abilities and performance relative to others, believing they are worse than average.