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The affect heuristic is the tendency to let immediate positive or negative feelings stand in for slower analysis when judging risks, benefits, and choices.
emotion risk judgment intuition valuation
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Decision
Choice under uncertainty, framing, loss, and forecasting. This page currently lists 7 models.
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The bandwagon effect is the tendency to adopt beliefs, products, or behaviors because many other people appear to be adopting them.
popularity conformity adoption trend social-influence
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The framing effect is the tendency for logically equivalent choices to produce different decisions depending on whether they are presented as gains, losses, or other contextual narratives.
framing choice risk language decision-making
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Losses feel approximately twice as painful as equivalent gains feel good — causing people to make irrational decisions to avoid loss, even when the expected value favors accepting it.
risk loss gain prospect-theory decision-making
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Recency bias is the tendency to overweight the most recent information or experiences when judging patterns, making forecasts, or choosing what to do next.
memory timing judgment trend forecasting
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Status quo bias is the tendency to prefer the current state of affairs, defaults, or existing arrangements even when alternatives may be objectively better.
inertia default change preference risk
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The sunk cost fallacy is the tendency to continue a failing course of action because past time, money, or effort has already been invested and abandoning it would make the loss feel real.
escalation commitment loss investment persistence