Anchoring effect
The assimilation of a second estimate to an anchor (a value considered during the prior estimate) (Morewedge and Kahneman, 2010).
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Confirmation bias
Testing a hypothesis by considering more evidence that confirms rather than disconfirms it. Usually occurs automatically, without explicit intent to do so (Morewedge and Kahneman, 2010).
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Egocentric bias
Overestimating the degree to which one’s perception of the world is accurate and the degree to which others perceive the world as one does (Morewedge and Kahneman, 2010).
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Epistemic artifact
A tool for thinking. Examples include externalized information representations such as text documents and database records along with graphical tools such as bar charts and geographic maps. Historical examples include petroglyphs used to mark productive hunting and fishing grounds. According to Clark, Dennett, Mithen, et al., the invention and use of epistemic artifacts are central to the explanation of human intelligence and human culture (Sterelny, 2004).
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Framing effect
Different formulations of the same decision problem elicit different preferences (Morewedge and Kahneman, 2010).
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Hindsight bias
‘Naive’ probability estimates of the probability of an outcome increase when it is known to have occurred (Morewedge and Kahneman, 2010).
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Processing fluency
The subjective experience of the ease or difficulty with which a cognitive task is accomplished (Morewedge and Kahneman, 2010).
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