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

Pseudocertainty effect

Description

The tendency for people to perceive an outcome as certain when it is actually uncertain in multi-stage decision making.

Pseudocertainty effect in business decision

A business might choose a strategy that guarantees a small positive outcome in an initial phase, making them feel certain of overall success, even if subsequent phases carry significant, unaddressed risks.

Pseudocertainty effect in personal life decision

You choose a certain $900 gain over a 90% chance of $1,000, even though the expected value is the same.