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The problem I have with these sort of lists is that they try to be comprehensive and add a lot of second order biases that tend to drown the basic/ fundamental
by virgilp 7y ago
The problem I have with these sort of lists is that they try to be comprehensive and add a lot of second order biases that tend to drown the basic/ fundamental ones. Take your example for IKEA effect: it is in fact a consequence of loss aversion. Once you invest emotion, time or money into something, you assign more value to it, because you do not want "lose" your initial investment.
- andruby 7y agoIs that again a consequence of "sunk cost" fallacy?