Steve J

Passionate educator and explorer

Following
Steve J
 added a term 

Status Quo Bias - preferring not to change things and keep the current status.

 

Steve J
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Risk Compensation - taking bigger risks when you perceive a certain situation as less risky and being more careful when you perceive a certain situation as risky.

Steve J
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Reactive Devaluation - devaluing an opponent's opinion or idea and preferring opinions or ideas coming from you or from a party you like.

 

Steve J
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Choice-supportive (Post-Purchase) Rationalization - retroactively ascribing positive attributes to an item purchased or selected.

 

Steve J
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Ostrich Effect - avoiding negative information because it is unpleasant.

 

 

Steve J
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Illusion of Validity - overestimating one's ability to interpret the data accurately and make a prediction especially when there's a coherent pattern in the data set.

Steve J
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Hyperbolic Discounting - to prefer a less significant payoff / gain sooner rather than wait for a larger payoff / gain in the future.

 

Steve J
 added a term 

Gambler's Fallacy - believing erroneously that past events impact future probabilities.

 

Steve J
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Anchoring effect - relying too much on initial information when it comes to making a decision.

 

Steve J
 added a term 

Availability heuristic - relying too much on available data disregarding other pieces of information when it comes to making a decision. 

 

Membership
Standard
Achievements

Level 1 "Scholar"

Total points: 101

400 point(s) to reach

Keenston

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