Ambiguity Effect
2 min read
The ambiguity effect is a cognitive bias where decision makers avoid options that are considered to be ambiguous or to have missing information.
Cognitive Biases
/ Ambiguity aversion
Tag
Explore 9 cognitive biases related to this topic.
2 min read
The ambiguity effect is a cognitive bias where decision makers avoid options that are considered to be ambiguous or to have missing information.
Cognitive Biases
/ Ambiguity aversion
2 min read
Neglect of probability is the tendency to completely disregard probability when making a decision under uncertainty.
Statistical Biases
/ Probability blindness
2 min read
The ludic fallacy is the misuse of games to model real-life situations.
Statistical Biases
/ Gaming fallacy
10 min read
The representativeness heuristic is the tendency to judge the probability of an event by how much it resembles a typical case, often ignoring base rates and statistical logic.
Cognitive Biases / Judgment heuristics
/ Similarity heuristic
2 min read
The clustering illusion is the tendency to erroneously consider the inevitable 'streaks' or 'clusters' arising in small samples from random distributions to be non-random.
Statistical Biases
/ Hot hand fallacy (related)
11 min read
The conjunction fallacy is the tendency to judge a specific, detailed scenario as more likely than a more general one that contains it, violating basic probability rules.
Cognitive Biases / Judgment under uncertainty
/ Linda Problem Bias
12 min read
The base rate fallacy is the tendency to ignore or underweight general statistical information (base rates) in favor of vivid or specific case details when judging probability.
Cognitive Biases / Bayesian neglect
/ Base Rate Neglect
11 min read
The gambler’s fallacy is the mistaken belief that past random events make future independent events more likely to be the opposite, such as expecting a tail after many consecutive heads.
Cognitive Biases / Misunderstanding independence
/ Monte Carlo Fallacy
12 min read
The tendency to overestimate the likelihood of events with greater 'availability' in memory, which can be influenced by how recent, unusual, or emotionally charged the memories are.
Cognitive Biases
/ Availability Bias