Biases

What Is Endowment Effect? Within the complex world of human psychology, there are distinct behavioral biases that emerge as intriguing idiosyncrasies, exerting an impact on our cognitive processes and judgments. The “Endowment Effect” provides insight into the process by which individuals assign worth to their possessions. It also emphasizes the complex mechanisms through which our …

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Loss aversion is a cognitive bias that explains why individuals tend to experience the psychological impact of losing something as being twice as intense as the pleasure they get from gaining something

Overestimate our intellect and skill can result in underestimating risks and overestimating potential gains.