System 1 Thinking - A mental shortcut that allows for quick judgments but may lead to errors due to oversimplification., Heuristics - The tendency to rely too heavily on the first piece of information encountered when making decisions., Cognitive Bias - Patterns of thought that consistently influence our decisions but can lead to inaccurate judgments., Anchoring Bias - The phenomenon where people evaluate experiences based on the most intense moments and the conclusion rather than the overall experience., Peak end Rule - A concept that describes how information presentation affects decision-making preferences., Framing Effect - The fast and intuitive way of processing information that requires minimal cognitive effort but is prone to bias,

Biases in Thinking and Decision Making

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