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Category: Cognitive Biases

The Cheerleader Effect

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Theory has it that individuals look better while they are in a group, whereas if you isolate them, the result may not be as aesthetically appealing.

Actor-Observer Bias

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The Actor-Observer bias refers to the tendency to relate our own mistakes to external factors while attributing other people’s behaviors to internal causes.

Survivorship bias: dead men don’t tell tales

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Survivorship Bias refers to our tendency to focus only on the winners and neglect the losers.

The False Consensus Effect

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The False Consensus Effect refers to the fact that people generally overestimate the extent to which others share their attitudes and viewpoints.

The Ostrich Effect

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Amartya Sen was born in Bengal, India in 1933. When he was only ten, he witnessed the Great Bengal Famine, which had an everlasting effect on his works, and was a reason as to why he pursued Welfare Economics and Economic Development.

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  • Amos Tversky
  • Daniel Kahneman
  • cognitive bias
  • Milton Friedman
  • Wealth of Nations
  • Nobel Prize Laureate
  • Adam Smith
  • 20:20 ratio
  • law of small numbers
  • the halo effect
  • wealth inequality
  • income inequality
  • Law of Large Numbers
  • Dow Jones Industrial Average
  • status quo bias
  • Behavioral Economics
  • daniel kahnemann
  • hyperinflation
  • the gambler's fallacy
  • gambler's fallacy
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