Examlex
Consider two stars of the same mass: star 1 has just moved on to the main sequence,and star 2 is about to leave it.How are these two stars different?
Endowment Effect
A cognitive bias that causes individuals to ascribe higher value to things merely because they own them.
Irrational Escalation
The phenomenon where individuals increase their investment in a decision based on the cumulative prior investment, despite new evidence suggesting that the decision was probably wrong.
Fixed Pie
A misconception in negotiations where parties incorrectly believe that their interests are directly opposed, assuming that one party's gain is the other's loss.
Reframing
The process of changing the perspective or context of a situation to view it in a new light.
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