Irrational Escalation
The phenomenon where people continue a failing course of action due to the amount of resources already invested.
299 topics found for
“decision-making in design”
Gambler’s Fallacy
A cognitive bias where individuals believe that past random events affect the probabilities of future random events.
Myopic Loss Aversion
A cognitive bias where individuals tend to avoid risks when they perceive potential losses more acutely than potential gains.
Anchoring
Anchoring (also known as Focalism) is a cognitive bias where individuals rely heavily on the first piece of information (the "anchor") when making decisions.
Dashboard Design
The process of creating an interface that displays key performance indicators and metrics in a visually accessible way.
Dual Self Model
A behavioral economics model that explains decision-making as a conflict between a present-oriented "doer" and a future-oriented "planner".
Availability Bias
A cognitive bias where people overestimate the importance of information that is readily available.
Naive Allocation
A heuristic where individuals evenly distribute resources across all options, regardless of their specific needs or potential.
Surrogation
The process by which a measure or metric comes to replace the underlying objective it is intended to represent, leading to distorted decision-making.