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Prospect Theory

Prospect Theory describes how we compare options and make choices. Our biases, influence the outcomes, especially when we faced losses

Mithun SridharanMithun Sridharan
1 min read
PsychologyConcepts

Decoy Effect

The decoy effect refers to the phenomenon where people tend to change their original preference between two choices when they are presented with an asymmetric third choice

Mithun SridharanMithun Sridharan
2 min read
PsychologyConceptsMental Models

Heinrichs Law

Heinrich's law states that, in a workplace, for every accident that causes a major injury, there are 29 accidents that cause minor injuries and 300 accidents that cause no injuries

Mithun SridharanMithun Sridharan
2 min read
FrameworksConceptsMental Models

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