Satisficing
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome.
22 topics found for
“bias minimization”
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.
Pain Of Paying
The psychological discomfort experienced when parting with money, influenced by the payment method and context.
Groupshift
A phenomenon where group members make decisions that are more extreme than the initial inclination of its members due to group discussions and interactions.