Search results
Results from the WOW.Com Content Network
Predictably Irrational: The Hidden Forces That Shape Our Decisions is a 2008 book by Dan Ariely, in which he challenges readers' assumptions about making decisions based on rational thought. Ariely explains, "My goal, by the end of this book, is to help you fundamentally rethink what makes you and the people around you tick.
Escalation of commitment, irrational escalation, or sunk cost fallacy, where people justify increased investment in a decision, based on the cumulative prior investment, despite new evidence suggesting that the decision was probably wrong. G. I. Joe fallacy, the tendency to think that knowing about cognitive bias is enough to overcome it. [66]
Due to these gaps, intelligent people can make seemingly irrational decisions. Contaminated mindware focuses on how intelligent people believe irrational ideologies, conspiracy theories, pseudosciences, and/or get-rich-quick schemes. A person can be led into such contaminated mindware through heuristic trust or fallacious reasoning.
Rational choice theory provides a framework to explain why groups of rational individuals can come to collectively irrational decisions. For example, while at the individual level a group of people may have common interests, applying a rational choice framework to their individually rational preferences can explain group-level outcomes that ...
Rationalization encourages irrational or unacceptable behavior, motives, or feelings and often involves ad hoc hypothesizing. This process ranges from fully conscious (e.g. to present an external defense against ridicule from others) to mostly unconscious (e.g. to create a block against internal feelings of guilt or shame).
A Perfect Example of Irrational Exuberance. Alex Planes, The Motley Fool. Updated July 14, 2016 at 9:42 PM. On this day in economic and financial history...
In reality, however, there are some factors that affect decision-making abilities and cause people to make irrational decisions – for example, to make contradictory choices when faced with the same problem framed in two different ways (see also Allais paradox).
How to Deal With Irrational Elderly Parents Who Refuse Help: 10 Useful Tips and Strategies. Starting the conversation early, staying calm, and respecting their needs can help you navigate your ...