Cognitive Biases

in Cognitive Biases

Bandwagon effect – the tendency to do (or believe) things because many other people do (or believe) the same. Related to groupthink and herd behavior.

in Cognitive Biases

Base rate fallacy – the tendency to ignore available statistical data in favor of particulars.

in Cognitive Biases

Bias blind spot – the tendency not to compensate for one's own cognitive biases.

in Cognitive Biases

Choice-supportive bias – the tendency to remember one's choices as better than they actually were.

in Cognitive Biases

Confirmation bias – the tendency to search for or interpret information in a way that confirms one's preconceptions.

in Cognitive Biases

Congruence bias – the tendency to test hypotheses exclusively through direct testing, in contrast to tests of possible alternative hypotheses.

in Cognitive Biases

Contrast effect – the enhancement or diminishing of a weight or other measurement when compared with a recently observed contrasting object.

in Cognitive Biases

Denomination effect – the tendency to spend more money when it is denominated in small amounts (e.g. coins) rather than large amounts (e.g. bills).

in Cognitive Biases

Distinction bias – the tendency to view two options as more dissimilar when evaluating them simultaneously than when evaluating them separately.

in Cognitive Biases

Endowment effect – "the fact that people often demand much more to give up an object than they would be willing to pay to acquire it".