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Sunk Cost Fallacy: something paid for that cannot be reversed. Past costs incurred are no longer relevant to future decisions.
Irrational Escalation: continuing what you were doing despite having negative outcomes because it is in line with past decisions and actions.
Generation Effect: we remember things better when we have thought of them ourselves rather than having read them somewhere.
Loss Aversion / Disposition Effect: we are more afraid of losing something than we are motivated to win something.
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Cue-Dependent Forgetting: remembering certain things by thinking of equivalent memories.
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Attentional Bias: subconsciously we choose points where we pay attention to. A smoker is more likely to notice other people smoking.
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"A good idea should be like a girl's skirt; long enough to cover the subject and short enough to create interest."
A cognitive bias is a systematic error in thinking that occurs when people are processing and interpreting information in the world around them and affects the decisions and judgments that they make. Can be used in Marketing ...
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Other curated ideas on this topic:
These explanations are all irrational for preferring the status quo:
Humans are especially susceptible to the “sunk cost fallacy”—a psychological effect where we feel compelled to continue doing something just because we’ve already put time and effort into it.
But the reality is that no matter what you spend your time doing, you can never get that time ba...
We all fall prey to unforeseen risks, and are blind to them due to three reasons:
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