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[6] [7] In 2003, Lovallo and Kahneman proposed an expanded definition as the tendency to underestimate the time, costs, and risks of future actions and at the same time overestimate the benefits of the same actions. According to this definition, the planning fallacy results in not only time overruns, but also cost overruns and benefit ...
Optimism bias is typically measured through two determinants of risk: absolute risk, where individuals are asked to estimate their likelihood of experiencing a negative event compared to their actual chance of experiencing a negative event (comparison against self), and comparative risk, where individuals are asked to estimate the likelihood of experiencing a negative event (their personal ...
The term derives from the Latin optimum, meaning "best". To be optimistic, in the typical sense of the word, is to expect the best possible outcome from any given situation. [1] This is usually referred to in psychology as dispositional optimism. It reflects a belief that future conditions will work out for the best. [2]
Action bias is the psychological phenomenon where people tend to favor action over inaction, even when there is no indication that doing so would point towards a better result. It is an automatic response , similar to a reflex or an impulse and is not based on rational thinking .
In addition to being a cognitive bias and a poor way of making decisions, wishful thinking is commonly held to be a specific informal fallacy in an argument when it is assumed that because we wish something to be true or false, it is actually true or false.
A Theory of Change is a high order, or macro, If-Then statement: If this is done, Then these are the anticipated results. The outcomes pathway is a set of needed conditions relevant to a given field of action, which are placed diagrammatically in logical relationship to one another and connected with arrows that posit causality.
The Pali word for impermanence, anicca, is a compound word consisting of "a" meaning non-, and "nicca" meaning "constant, continuous, permanent". [1] While 'nicca' is the concept of continuity and permanence, 'anicca' refers to its exact opposite; the absence of permanence and continuity. The term is synonymous with the Sanskrit term anitya (a ...
The sense of agency (SoA), or sense of control, is the subjective awareness of initiating, executing, and controlling one's own volitional actions in the world. [1] It is the pre-reflective awareness or implicit sense that it is I who is executing bodily movement(s) or thinking thoughts.