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Judgment And Decision Making

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2 domain-specific abstractions whose origin domain is Judgment And Decision Making.

  • Overconfidence effect — Miscalibration in which confidence, perceived performance, comparative rank, or precision systematically exceeds warranted accuracy.
  • Time-Saving Bias — Systematically misjudge time gained or lost from a rate change by treating the rate–time relation as linear or proportional instead of reciprocal, undervaluing changes from low rates and overvaluing equal changes from high rates.