Paradox of Choice
The phenomenon where having too many options leads to anxiety and difficulty making a decision, reducing overall satisfaction.
119 topics found for
“decision-making biases”
Pseudo Set Framing
The cognitive bias where people treat a set of items as more significant when they are perceived as a cohesive group.
Decoy Effect
A cognitive bias where consumers change their preference between two options when presented with a third, less attractive option.
Reference Dependence
A cognitive bias where individuals evaluate outcomes relative to a reference point rather than on an absolute scale.
Hard-Easy Effect
A cognitive bias where people overestimate the probability of success for difficult tasks and underestimate it for easy tasks.
Relativity
A principle often used in behavioral economics that suggests people evaluate options based on relative comparisons rather than absolute values.
Attention Bias
The tendency for people's perception to be affected by their recurring thoughts at the time.
Informational Influence
The change in opinions or behavior that occurs when individuals conform to the information provided by others.
Fallacy of Composition
A logical fallacy that occurs when one assumes that what is true for a part is also true for the whole.