Perceptual and Behavioral Decision Traps.
•Framing Error: The way in which information is presented influences one’s interpretation of it, which, in turn, may alter a decision based on the information.
- •Escalation of Commitment: Continuing on a course of action can lock a person into a losing position (“throwing good
- money after bad”).
•Overconfidence: Believing too much in one’s own capabilities is a trap.