DecPsy biases

Question 1

A luxury watch store displays a $10,000 watch next to a $1,500 watch. The $1,500 watch suddenly seems like a great deal.

Accepted Answer

anchoring bias

Question 2

Kodak dominating the industry invented digital technology but failed to transition to digital for ’protecting legacy’

Accepted Answer

status quo bias, overconfidence

Question 3

Thinking of a previous product launch as being more successful than it actually was, forgetting cost overruns and delays

Accepted Answer

recollection bias

Question 4

You're more reluctant to sell an item you own for less than you'd be willing to pay for the exact same item to buy

Accepted Answer

endowment effect

Question 5

The computer broke three times last month. It's pretty unlikely it will happen again....

Accepted Answer

gambler's fallacy

Question 6

A cinema offers: Small ($3) and Large Popcorn ($7). They add a Medium Popcorn ($6) and suddenly the Large starts to sell

Accepted Answer

decoy effect

Question 7

A car dealer first shows you a car for $30,000. You buy a different one for $22,000, feeling it's cheap.

Accepted Answer

anchoring bias

Question 8

You consistently overestimate how quickly you can finish tasks, always missing deadlines.

Accepted Answer

overconfidence bias

Question 9

An investor funds a startup because its charismatic founder reminds them of Elon Musk

Accepted Answer

representativeness

Question 10

A burger is advertised as "90% fat-free." You think it's healthy. If it said "10% fat," you'd be wary.

Accepted Answer

framing effect

Question 11

HR manager remembers a bad experience with a candidate from a particular school and rejects future applicants from there

Accepted Answer

availability bias

Question 12

After high-profile terrorist attacks, people often overestimate the risk of flying and choose to drive instead.

Accepted Answer

availability bias

Question 13

You think your new neighbor is unfriendly. You remember every time they didn't wave, but forget when they smiled.

Accepted Answer

confirmation bias

Question 14

After your team wins a game, you say, "I knew they'd pull it off all along!"

Accepted Answer

hindsight bias

Question 15

Investors avoid a stock market after a crash, remembering the loss vividly, even though data suggest a recovery trend.

Accepted Answer

availability bias

Question 16

You believe red cars are driven by aggressive people. You notice every red car that speeds, ignoring careful drivers.

Accepted Answer

confirmation bias

Question 17

After hearing about a shark attack, you're terrified to swim, even though lightning strikes are more likely.

Accepted Answer

availability bias

Question 18

You just saw a news report about a robbery. Now you think crime rates in your city are soaring.

Accepted Answer

availability bias

Question 19

You've watched half a terrible movie. You keep watching because you "already spent money on it."

Accepted Answer

escalation of commitment, sunk cost effect

Question 20

A restaurant lists a "chef's special" steak for €50. You order a regular steak for €35 & feel like you got a good deal.

Accepted Answer

anchoring bias

Question 21

A software firm introduces a 'Premium' plan at $199/month alongside a standard $99/month plan

Accepted Answer

anchoring bias

Question 22

You've spent months on your dissertation that you hate. You keep going, thinking, "I've already invested so much time!"

Accepted Answer

sunk cost effect

Question 23

A sweater is marked “Was $120, Now $60.”

Accepted Answer

anchoring bias

Question 24

Your company introduces a new retirement plan, but you stick with your old, less optimal one because it's already set up

Accepted Answer

status quo bias

Question 25

A candidate is outgoing, energetic, and attractive. Interviewers assume they would be great in sales.

Accepted Answer

representativeness bias

Question 26

After a data breach in a competitor firm, a company invests in cybersecurity, even though internal audit shows low risk

Accepted Answer

availability bias

Question 27

You spent $3M developing a new app. Despite poor beta feedback & market signals, you approve a further $1.5M to go on...

Accepted Answer

escalation of commitment

Question 28

You see an ad for a product you like and only notice the positive reviews, reinforcing your existing preference.

Accepted Answer

confirmation bias

Question 29

You hear two negative news stories about people from a small town. You then believe that "people from that town are bad"

Accepted Answer

illusory correlation

Question 30

A manager defends a poor-performing hire, citing the effort spent on training and onboarding, and avoids termination

Accepted Answer

escalation of commitment

Question 31

If it ain't broke, don't fix it (preferring the current state of affairs over change)

Accepted Answer

status quo bias

Question 32

Believing a previous hiring decision was good as the employee stayed for years, forgetting the initial performance issue

Accepted Answer

recollection bias

Question 33

A free trial ends with a warning: "If you don't subscribe now, you'll lose access to all your saved data."

Accepted Answer

loss aversion

DecPsy biases

Questions 33

DecPsy biases

Questions 33