In prospect theory, the pseudocertainty effect is the tendency for people to treat an outcome as certain when it is actually still uncertain, in decisions made across multiple stages. When evaluating a later stage of a decision, people tend to disregard how uncertain the outcome of an earlier stage really was.
Facts
Core ClaimIn prospect theory, the pseudocertainty effect is the tendency for people to perceive an outcome as certain while it is actually uncertain in multi-stage decision making. 1 First Described Year Classification
Type of Phenomenon Connections
In Branch
Source Wikipedia: Pseudocertainty effect
Sources
1. Wikipedia: Pseudocertainty effect
Wikimedia Foundationlead paragraph
In prospect theory, the pseudocertainty effect is the tendency for people to perceive an outcome as certain while it is actually uncertain in multi-stage decision making.
Bibliography section, Tversky and Kahneman 1986 entry
Tversky, Amos; Kahneman, Daniel (1986). "Rational Choice and the Framing of Decisions" (PDF). The Journal of Business. 59 (S4): S251.
lead section, phenomenon-kind classification
In prospect theory, the pseudocertainty effect is the tendency for people to perceive an outcome as certain while it is actually uncertain in multi-stage decision making.
In Branch: Cognitive Psychology, Categories
Wikipedia article 'Pseudocertainty effect' is filed under Category:Cognitive biases.
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