Browse & Filter Biases

Showing 187 biases.

Need To Act Fast

To get things done, we tend to complete things we've invested time and energy in

Endowment effect

Description

The hypothesis that people ascribe more value to things merely because they own them.

Endowment effect in business decision

An employee might overvalue their own idea or project proposal compared to a colleague's objectively similar or better proposal, simply because it's "theirs."

Endowment effect in personal life decision

You demand more money to sell your old bicycle than you would pay for a similar used bike.