Mental Accounting

This category of biases refers to the different criteria and attitudes that individuals use to evaluate financial activities and objects, depending on their source, purpose and their overall classification.

Choice Bracketing

Choice bracketing refers to how we group individual choices into broader or narrower evaluation sets. When bracketing narrowly, we seek the maximum immediate satisfaction;…

Hedonic Editing

It’s when we narrate events in a way that makes us feel happier. We therefore tend to combine losses with larger gains (to reduce pain) or separate gains into smaller parts…