Terms by Alex
Endowment Effect - ascribing exagerated value to the things we own. The term Loss Aversion (a human tendency to prefer avoiding losses rather than obtaining equivalent gains) usually explains Endowment Effect.
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- · Alex
Courtesy bias - giving a more socially acceptable opinion in fear of judgment or to appear nice.
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- · Alex
Clustering illusion - erroneously overestimating the importance of certain clusters of information in a large data set where other information clusters might play an important role in making a solid argument.
Bias blind spot - viewing oneself as less biased than other people.
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- · Alex
Belief bias occurs when someone bases the validity of an argument on a conclusion without assessing what was stated before the conclusion.
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- · Alex