Overconfidence Effect
A cognitive bias where a person's subjective confidence in their judgments is greater than their objective accuracy.
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Overchoice
The phenomenon where having too many options leads to decision-making paralysis and decreased satisfaction.
Moral Suasion
The act of persuading individuals or organizations to act in a certain way based on moral arguments or appeals.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship.
Ambiguity Effect
A cognitive bias where decision-making is affected by the lack of information or uncertainty.
Intention Action Gap
The discrepancy between what people intend to do and what they actually do.
Innovation Theory
The study of how new ideas, products, and processes are developed and brought to market.
Zero-Risk Bias
A cognitive bias where people prefer the option that seems to eliminate risk entirely, even if another option offers a greater overall benefit.
Worse-Than-Average Effect
A cognitive bias where individuals underestimate their own abilities and performance relative to others, believing they are worse than average.