Coming next
In a rush to manage chaos, we view decisions as a binary choice. However, reducing complex concepts and problems to being on one side or another overlooks the richer opportunities in the middle.
Experience
Scarcity
We value things more when they’re in limited supply
Social Proof
We copy the behaviors of others, especially in unfamiliar situations
Prospect Theory
A loss hurts more than an equal gain feels good
Reciprocity
We’re hardwired to return kindness received
Framing
We make very different decisions based on how a fact is presented
Loss Aversion
We feel more negative when losing something than positive when we gain it
Self-Expression
We constantly seek out ways to communicate our identity to others
Default Effect
We tend to accept the option pre-chosen for us
Priming
Our decisions are shaped by memories recalled from things just seen or heard
Anchoring
What we see first affects our judgement of everything thereafter
Autonomy Bias
We have a deep-seated need to control our situations
Fast & Slow Thinking
We make knee-jerk spontaneous decisions that can cause regretful damage
Status Quo Bias
We tend to stick with our previous choices, even if the alternatives might be better
Dynamic Norms
We’re more likely to change if we can see a new behavior developing
Round Pricing Preference
We prefer and trust whole numbers over those ending in a 9
Salience
Our choices are determined by the information we're shown
Centre-Stage Effect
We prefer the middle option in a horizontal set of choices
Measurement Paradox
We enjoy experiences less when we track them
Friction
We’re less likely to complete a task with each step added
In-Group Bias
We tend to favour our group over others
Boundary Pricing
We're more likely to upgrade if the base price feels closer
Steven Pinker
at Harvard University
Sendhil Mullainathan
at University of Chicago, Booth School of Business
Richard Thaler
at University of Chicago, Booth School of Business
Dan Ariely
at Duke University
If-Then Plans
If in this scenario, we then plan to do that, we'll more likely reach our goals
Afterlife Effect
We recycle more when shown what the product will become
Daniel Kahneman
at Princeton University
Katy Milkman
at The University of Pennsylvania
Zero Price Bias
We value something more when free over very cheap
Zeigarnik Effect
Incomplete tasks weigh on our minds until done
Tiny Habits
We're more likely to reach goals when broken down into smaller ones
Time Scarcity
We're more likely to act if the clock is ticking…
Temptation Bundling
We're more likely to do the hard stuff when coupled with the pleasant
Surprise Effect
We respond well to positive, unexpected, personal gestures
Sunk Cost Bias
We’re unable to let go of our past bad investments, even if it makes sense to do so
Storyteller Bias
We’re more persuaded by and better recall those who tell stories
Status
We constantly look for ways to improve how others see us
Spacing Effect
We remember things better when repeated over time and across environments
Serial Position Effect
We better remember the first and last items in a list
Segregation Effect
Positive experiences feel better overall when we spread them out
Risk Aversion
We don’t like uncertainty and generally stick to what we know
Rhyme As Reason Effect
Rhyming statements that you hear, they are seen as more sincere
Rewards
We change our behavior when given gifts that reinforce actions and goals
Reciprocity Decay
Our desire to give back wanes rapidly with time
Reactance
We’ll do the opposite from what we’re asked if we’re pushed too hard
Product-Person Bias
We look for and value human connections in our products
Present Bias
What we want now is often the opposite of what we aspire to in the future
Picture Superiority Effect
We remember images far better than words
Peak-End Rule
We remember an experience by its peaks and how it ended
Odor Priming
We’ll pay more when we smell something nice
Nostalgia Effect
Thinking about the past makes us want to spend more now
Metaphorical Shortcut
New or complex ideas are easier understood through existing ones
Mere Exposure Effect
We like things more as they become more familiar to us
Limited Choice
We’re more likely to decide when the options are sensibly restricted
Limited Access
We place greater value in things when there are barriers placed around them
IKEA Effect
We’ll pay disproportionately more for something we’ve helped create
Humor Effect
We’re more motivated by and remember things that make us laugh
Hedonic Adaptation
We feel less joy for a gain and discomfort for a loss as time goes by
Halo Effect
We incorrectly transfer judgements of known attributes onto other unrelated or unknown ones
Goal Priming
When we’re reminded of our aims, we're more motivated to reach them
Goal Gradient Effect
Our efforts increase the closer we are to task completion
Fresh Start Effect
We're more likely to stick to habits made at the start of new time periods
Foot In The Door
Making a small commitment now makes us more likely to agree to a greater one later
Fluency Shortcut
Statements that are easier to understand are more believable
Feedback Loops
We look for information that provides clarity on our actions
Entourage Effect
Our status is elevated when we share our VIP treatment
Ownership Bias
We value things more when we feel we own them
Endowed Progress Effect
We reach our goals faster when we have help getting started
Door In The Face
We're more likely to agree to a small request after first rejecting a larger one
Devil Effect
Our perception of a single negative attribute unfairly bleeds into other unrelated areas
Delay Discounting
We choose smaller, more immediate rewards over greater ones that we need to wait for
Decoy Effect
We’re more likely to buy B over A by adding C to make B look more attractive
Curiosity Effect
We're driven to seek missing info that closes our knowledge gap
Contrast Effect
We better remember products that stand out from their surroundings
Confirmation Bias
We look for information that supports our existing beliefs and ignore what doesn’t
Competition
We strive with and against one another for limited resources and status
Commitment
Once we’ve made a public statement, we make consistent decisions to support it
Collection Bias
We have an emotional need to amass sets of related items
Chunking
We process information better when put into small groups
Choice-Supportive Bias
We recall more of the positives of our choices over any negatives
Certainty Effect
We crave clarity over chance and make costly sacrifices to get it
Biophilia Effect
We're drawn to living things and become stressed if too detached from them
Availability Bias
Our judgements are heavily influenced by what comes to mind more easily
Authority
We have a strong tendency to comply with those in charge
Analysis Paralysis
Our capacity to process information and make decisions reduces with each made
Aggregation Effect
Negative experiences feel less painful overall when they’re bundled together