Relativity
A principle often used in behavioral economics that suggests people evaluate options based on relative comparisons rather than absolute values.
4 topics found for
“relative comparison”
Social Benchmarking
The practice of comparing one's performance, processes, or practices to those of peers or competitors to identify areas for improvement.
Benchmarking
The practice of comparing performance metrics to industry bests or best practices from other companies.
Illusory Superiority
A cognitive bias where individuals overestimate their own abilities, qualities, or performance relative to others.