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.
119 topics found for
“decision-making biases”
Opportunity Cost Neglect
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions.
Ratio Bias
A cognitive bias where people judge the likelihood of an event based on its relative size rather than absolute probability.
Egocentric Bias
A cognitive bias where people rely too heavily on their own perspective and experiences when making decisions.
Regret Aversion
A tendency to avoid making decisions that might lead to regret, influencing risk-taking and decision-making behaviors.
Illusion of Validity
A cognitive bias where individuals overestimate the accuracy of their judgments, especially when they have a lot of information.
Category Size Bias
A cognitive bias where people judge the likelihood of an event based on the size of its category rather than its actual probability.
Escalation of Commitment
A cognitive bias where individuals or organizations continue to invest in a failing project or decision due to the amount of resources already committed.
Certainty Effect
A cognitive bias where people give greater weight to outcomes that are certain compared to those that are merely probable.