Liking Bias

Liking Bias

Kevin had no intention of buying wine. He rarely drank it, let alone the expensive Bordeaux variety. But there he was, walking out of the store with two boxes of fine Margaux. What made him change his mind? The sales assistant. She was not overly pushy or insincere;...
The Paradox of Choice

The Paradox of Choice

In a world where we are constantly told that choice symbolizes freedom, progress, and success, the sheer volume of options available can feel overwhelming. My sister and her husband recently bought an unfinished house, and for the past two months, the topic of...
Outcome Bias

Outcome Bias

Imagine a scenario where one million monkeys engage in random stock market speculation. After a week, half of them make a profit while the other half face losses. The profitable ones continue, and the rest are sent home. This process continues for several weeks,...
Regression to Mean Fallacy

Regression to Mean Fallacy

When grappling with life fluctuations, we often seek explanations and remedies for our ups and downs. Consider the case of a man suffering from back pain that fluctuates dramatically. On some days, he felt capable of conquering mountains; on others, even simple...
Incentive Super-Response Tendency

Incentive Super-Response Tendency

Incentives have a powerful influence on human behavior. The incentive super-response tendency is evident from the colonial rat infestation solution to the discovery of the Dead Sea Scrolls and modern corporate practices. Understanding this phenomenon is crucial for...