A list of the most relevant biases in behavioural economics
Why do we lose interest in an activity after we are rewarded for it?
Why we tend to rely upon our current emotions when making quick, automatic decisions.
Why do we tend to think that things that happened recently are more likely to happen again?
Why we are more likely to be dissatisfied with that product than we otherwise would be.
Category Size Bias
Why we perceive an option as more likely if it belongs to a large category than if it is in a small category.
Why people support their past ideas, even when presented with evidence that they're wrong?
Why we tend to view two options as more distinctive when evaluating them simultaneously then separately.
Extrinsic Incentive Bias
Why do people think that extrinsic incentives are more motivating for others?
Fundamental Attribution Error
Why do we underestimate the influence of the situation on people’s behavior?
Why do we think a random event is more or less likely to occur if it happened several times in the past?
Why do positive impressions produced in one area positively influence our opinions in another area?
Why we tend to overestimate our ability to do something considered hard and underestimate our ability to do something considered easy.
Why do we expect previous successful performance to lead to future successful performance?
Identifiable Victim Effect
Why are we more likely to offer help to a specific individual than a vague group?
Illusory Truth Effect
Why we are more likely to believe that something is true if it is repeated to us enough times.
Why we believe that all morally good actions adds up to a reward and all morally bad actions add ups to a punishment
Levels of Processing
Why do we remember information that we attach significance to better than information we repeat?
Why rewards of uncertain size tend to motivate us more than known rewards
Why we often tend to devalue proposals made by people who we consider to be adversaries
Why responses to a survey or experiment can be inaccurate due to the nature of the survey or experiment
Why do we focus on items or information that are more prominent and ignore those that are not?
Why we forget where are memories come from, and thereby lose our ability to distinguish the reality or likelihood of each memory.
Why recent events are thought to be longer ago than they were, and remote events thought to be more recent
The Sunk Cost Fallacy
Why are we likely to continue with an investment even if it would be rational to give it up?