Cognitive Bias Definitions

The tendency to make decisions about a current situation based on what resources you have already invested in the situation.

• Confirmation Bias

• Herd Mentality

• Overconfidence

• Endowment Effect

The tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence.

• Confirmation Bias

• Hedonic Adaptation

• Herd Mentality

• Endowment Effect

The tendency to feel anxiety/fear that an exciting or interesting event may currently be happening else where, often aroused by posts seen on a social media website.

• Loss Aversion

• FOMO (Fear of Missing out)

• Sunk Cost Fallacy

• Herd Mentality

The tendency to return to a baseline level of happiness regardless of whether you go through a positive or negative experience or event.

• Herd Mentality

• Sunk Cost Fallacy

• Hedonic Adaptation

• Endowment Effect

The tendency to conform to the behaviors and beliefs of the people around you.

• Herd Mentality

• FOMO (Fear of Missing Out)

• Hedonic Adaptation

• Loss Aversion

The tendency to regard losses as considerably more important than gains of comparable magnitude.

• Sunk Cost Fallacy

• FOMO (Fear of Missing Out)

• Overconfidence

• Loss Aversion

The tendency people have to be more confident in their own abilities.

• Herd Mentality

• Confirmation Bias

• Overconfidence

• Hedonic Effect

The tendency to make decisions about a current situation based on what resources you have already invested in the situation.

• Sunken Cost Fallacy

• Loss Aversion

• Endowment Effect

• Confirmation Bias