Escalation of commitment - an increased commitment to a previous decision in spite of negative information.
Randomness error - The tendency of individuals to believe they can predict the outcome of random events.
Risk aversion - the tendency to prefer a sure gain of a moderate amount over a riskier outcome, even if the riskier outcome might have a higher expected pay-off.
Hindsight bias
The tendency to believe falsely, after an outcome of an event is actually known, that one would have accurately predicated that outcome.
No comments:
Post a Comment