Jay Daverth's Quotes

in Cognitive Biases

Outcome bias – the tendency to judge a decision by its eventual outcome instead of based on the quality of the decision at the time it was made.

in Cognitive Biases

Planning fallacy – the tendency to underestimate task-completion times.

in Cognitive Biases

Post-purchase rationalization – the tendency to persuade oneself through rational argument that a purchase was a good value.

in Cognitive Biases

Pseudocertainty effect – the tendency to make risk-averse choices if the expected outcome is positive, but make risk-seeking choices to avoid negative outcomes.

in Cognitive Biases

Reactance – the urge to do the opposite of what someone wants you to do out of a need to resist a perceived attempt to constrain your freedom of choice.

in Cognitive Biases

Focusing effect – the tendency to place too much importance on one aspect of an event; causes error in accurately predicting the utility of a future outcome.

in Cognitive Biases

Framing – using an approach or description of the situation or issue that is too narrow. Also framing effect – drawing different conclusions based on how data is presented.

in Cognitive Biases

Hyperbolic discounting – the tendency for people to have a stronger preference for more immediate payoffs relative to later payoffs, where the tendency increases the closer to the present both payoffs are.

in Cognitive Biases

Illusion of control – the tendency to believe that outcomes can be controlled, or at least influenced, when they clearly cannot.

in Cognitive Biases

Impact bias – the tendency to overestimate the length or the intensity of the impact of future feeling states.