Name of theorySignal detection theory (also known as detection theory) Description Signal detection theory (SDT) is a method to differentiate between various actions and consequences in decision making processes. Other theories might simply consider a decision to be right or wrong, but signal detection theory differentiates those responses based on Read more…
Name of theory Nudge theory, also known as nudging Key reference (Thaler & Sunstein, 2008; 2021) Description Nudge theory, or nudging, refers to designing the available choices in such a way that preferred options are more likely to be chosen, a method called choice architecture. There are several basic nudging Read more…
Name of concept Loss aversion Key reference (Kahneman & Tversky, 1979) Description Loss aversion is the idea that people will seek to avoid losses more than they would work towards a gain of an equal magnitude. For example, people will want to avoid losing €10 more than they would put Read more…
Name of theory Elaboration Likelihood Model Key reference (Petty & Cacioppo, 1986) Description The Elaboration Likelihood Model is a model to explain how attitudes that people hold can change. The model proposes the existence of two routes of information processing: the central route, and the peripheral route. The central route Read more…
Name of concept Confirmation bias Description Confirmation bias is the tendency to process information in a non-objective way, so that information is processed more in line with beliefs that people already have. There are three forms of confirmation bias, 1) the way in which people remember information, 2) how they Read more…