Psychology & Behavior
Dunning-Kruger Effect
People with low ability in a domain consistently overestimate their competence, while experts tend to underestimate theirs.
Cognitive Biases
Psychology & Behavior
The Halo Effect
The halo effect is our tendency to let one positive trait overshadow and influence our judgment of all other traits.
Psychology & Behavior
Loss Aversion
Loss aversion is our tendency to feel the pain of losing something roughly twice as intensely as the pleasure of gaining the same thing.
Economics & Decisions
Sunk Cost Fallacy
The sunk cost fallacy is our irrational tendency to continue investing in something because we've already invested so much, even when walking away would be the smarter choice.