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FOMO
The tendency to feel anxiety/fear that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website
Endowment Effect
The tendency to put more value on things you already own
Confirmation Bias
The tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence
Loss Aversion
The tendency to regard losses as considerably more important than gains of comparable magnitude
Herd Mentality
The tendency to conform to the behaviors and beliefs of the people around you
Hedonic Adaptation
The tendency to return to a baseline level of happiness regardless of whether you go through a positive or negative experience or event. This phenomenon suggests that people quickly adjust to changes in their circumstances, leading to a temporary increase or decrease in happiness.
Overconfidence
The tendency people have to be more confident in their own abilities
Sunk Cost Fallacy
The tendency to make decisions about a current situation based on what resources you have already invested in the situation.
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Flashcard (28)