1 - Behavioral Economics

2. The tendency to regard losses as considerably more important than gains of comparable magnitude
4. When a person mistakenly believes they are better than others
5. The subfield of economics that applies psychological insights into human behavior and to explain economic decision making
6. The tendency to make decisions about a current situation based on what resources you have already invested in the situation
11. The tendency to feel anxiety/fear that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website
13. The tendency to conform to the behaviors and beliefs of the people around you
15. The tendency to return to a baseline level of happiness regardless of whether you go through a positive or negative experience or event

1. Costs that have already been incurred and cannot be recovered
3. When a person believes they are better at something than they actually are
6. The use of social media platforms and websites to promote a product or service
7. When a person has an exaggerated certainty that an answer is correct
8. The tendency people have to be more confident in their own abilities
9. The tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence
10. A subconscious error in thinking that leads to irrational decision making
12. A strategy used to combat loss aversion by imagining that overnight something you own has been replaced with cash, then determining whether you would prefer to keep the cash or buy the item back
14. The tendency to put more value on things you already own