McNamara Fallacy
The error of making decisions based solely on quantitative observations and ignoring all other factors.
102 topics found for
“information bias”
Intertemporal Choice
The study of how people make choices about what and how much to do at various points in time, often involving trade-offs between costs and benefits occurring at different times.
Anecdotal Fallacy
A logical fallacy where anecdotal evidence is used to make a broad generalization.
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.
Naive Allocation
A heuristic where individuals evenly distribute resources across all options, regardless of their specific needs or potential.
Fallacy of Composition
A logical fallacy that occurs when one assumes that what is true for a part is also true for the whole.
Perceptual Set
The tendency to perceive and interpret information based on prior experiences and expectations, influencing how different users perceive design differently.
Zero Price Effect
A phenomenon where people perceive an item as more valuable when it is free, leading to an increased likelihood of choosing the free item over a discounted one.
Pain Of Paying
The psychological discomfort experienced when parting with money, influenced by the payment method and context.