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Overconfidence Effect
A cognitive bias where people overestimate their own abilities, knowledge, or predictions.
Behavioral Economics
A branch of economics concerned with understanding how the economic behaviors of individuals and institutions are impacted by factors like psychology, cognition, emotions, culture, and society.
Hindsight Bias
A psychological phenomenon where people believe they could have predicted an event after it has already occurred.
Availability Heuristic
A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.
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