Cognitive Biases

The Endowment Effect: Why Ownership Clouds Rational Judgment

The Endowment Effect is a cognitive bias where individuals assign disproportionately high value to things they own, simply because they own them. This phenomenon...

The Availability Heuristic: The Power of What Comes to Mind

The availability heuristic is a mental shortcut where people judge the likelihood of events based on how easily examples come to mind. Several cognitive...