2025 March draft

Draft Results

Cognitive Biases, The 2026 Draft Pool

Arizona, Cleveland, Detroit, Houston, Los Angeles Angels, Miami, Milwaukee, Oakland, Pittsburgh, Texas, Washington

https://thedecisionlab.com/biases

A list of the most relevant biases in behavioral economics

Biases

1.      Anchoring Bias Why do we compare everything to the first piece of information we received?

2.      Availability Heuristic Why do we tend to think that things that happened recently are more likely to happen again?

3.      Base Rate Fallacy Why do we rely on specific information over statistics?

4.      Bundling Bias Why do we value items purchased in a bundle less than those purchased individually? Cleveland

5.      Confirmation Bias Why do we favor our existing beliefs? Washington

6.      Disposition Effect Why do we tend to hold on to losing investments?

7.      Endowment Effect Why do we value items more if they belong to us? Oakland

8.      Framing Effect Why do our decisions depend on how options are presented to us?

9.      Gambler's Fallacy Why do we think a random event is more or less likely to occur if it happened several times in the past? Detroit

10.  Hindsight Bias Why do unpredictable events only seem predictable after they occur?

11.  Illusion of Control Why do we think we have more control over the world than we do? Houston

12.  Leveling and Sharpening Why do we exaggerate some details of a story, but minimize others?

13.  Loss Aversion Why do we buy insurance? Pittsburgh

14.  Negativity Bias Why is the news always so depressing?

15.  Optimism Bias Why do we overestimate the probability of success? Texas

16.  Recency Effect Why do we better remember items at the end of a list? Miami

17.  Status Quo Bias Why do we tend to leave things as they are? Milwaukee

18.  Survivorship Bias Why do we misjudge groups by only looking at specific group members? Arizona

19.  The Sunk Cost Fallacy Why are we likely to continue with an investment even if it would be rational to give it up? Los Angeles AL