Cognitive bias

What is the sunk cost fallacy, and why do we fall for it?

The sunk cost fallacy is the tendency to continue something because of what has already been invested, even when quitting would be the better choice.

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Charkive StartersBiases and thinking

What is the anchoring effect, and how strong is the evidence?

Anchoring is the pull of an irrelevant number on later estimates. Meta-analyses find large average effects, but a well-powered replication found a much smaller one.

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Connected topics

Epistemology and rationality Behavioral economics Judgment and decision making Social psychology Obedience to authority Research ethics Psychology Metacognition Research methods Attitudes and beliefs