Confirmation bias

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8 Terms

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Confirmation bias

The human tendency to pay attention to info that supports our beliefs

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Endowment effect

When people tend to value items just because they own it

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FOMO

Fear of missing out

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Hedonic adaptation

The tendency for people to return to a stable happiness despite positive and negative events

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Herd mentality

The tendency for people in a group to behave in similar ways

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Loss aversion

The tendency to feel pain more intensely than pleasure

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Over confidence

Having too much confidence

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Sunk cost fallacy

The tendency to keep investing into something that isn’t working just because you’ve already invested in it