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What phrase means a subconscious error in thinking that lead to irrational decision making?
cognitive bias
What phrase meand the tendency to search for information that supports our preconceptions and to ignore or distort contridicatary evicence?
confirmation bias
What phrase means the tendency to put more value on things you already own?
endowment effect
What phrase means the tendency to feel anxiety that an exciting/interesting event may currently be happening elsewhere, often aroused by social media posts?
fear of missing out
What phrase means the tendency to return to a baseline level of happiness regardless of whether you go through a psitive or negative event/experience?
hedonic adaption
What phrase mean the tendency to conform to the behaviors and beliefs of the people around you?
herd mentality
What phrase means the tendency to regard losses as considerably more importatn than gains of comparable magnitude?
loss aversion
What phrase means the tendency to people have to be more confident in their own abilities?
overconfidence bias
