Shared Information Bias
A cognitive bias where group members tend to discuss information that everyone already knows rather than sharing unique information, leading to less effective decision-making.
128 topics found for
“decision environments”
Defaulting
The practice of setting defaults in decision environments to influence outcomes, often used in behavioral economics and design.
System Two
A mode of thinking, derived from Dual Process Theory, that is slow, deliberate, and analytical, requiring more cognitive effort and conscious reasoning.
Business Acumen
The ability to understand and deal with various business situations, making sound decisions to ensure successful outcomes.
System One
A mode of thinking, derived from Dual Process Theory, that is fast, automatic, and intuitive, often relying on heuristics and immediate impressions.
Decision Fatigue
The deteriorating quality of decisions made by an individual after a long session of decision making, due to mental exhaustion.
Decision Paralysis
A state of overthinking and indecision that prevents making a choice, often due to too many options or uncertainty.
Decision Tree
A tree-like model of decisions and their possible consequences, used in data mining and machine learning for both classification and regression tasks.
Probability Matching
A decision-making strategy where individuals allocate resources proportionally to the probability of an outcome occurring, rather than optimizing the most likely outcome.