#behavioral

The sunk cost fallacy: continuing an action because of past investment (time, money, effort), even when the marginal returns no longer justify it. Th…

Tversky and Kahneman: people estimate quantities by starting from an initial value (anchor) and adjusting insufficiently. Asked "Is the population of…

Kahneman and Tversky found that losses loom roughly twice as large as equivalent gains — losing $100 feels about as bad as gaining $200 feels good. T…