The Big List of Behavioral Biases
This site could well be one of the internet's best kept secrets, I particularly liked these points ( full credit goes to the author of the site in the link above ) ....
Ambiguity Aversion: we don't mind risk but we hate uncertainty
Barnum Effect: we see insightful information in random rubbish
Choice Overload: too much choice makes us indecisive
Denomination Bias: we're more likely to spend small denomination notes than large ones
Hindsight Bias: we're unable to stop ourselves thinking we predicted events, even though we're woefully bad at predicting the future
Information Overload: too much information reduces the accuracy of the results we produce from it
Less-is-More Effect: the less knowledge you have the more accurate your predictions
Loss Aversion: we do stupid things to avoid realizing a loss
Reciprocity: our sense of fairness will override economic rationality
No comments:
Post a Comment