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About: Pseudocertainty effect     Goto   Sponge   NotDistinct   Permalink

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Type: yago:WikicatCognitiveBiasesyago:Abstraction100002137yago:Attitude106193203yago:Bias106201908yago:Cognition100023271yago:Explanation105793000yago:HigherCognitiveProcess105770664yago:Inclination106196584yago:Partiality106201136yago:Process105701363yago:PsychologicalFeature100023100organisationyago:Theory105989479yago:Thinking105770926yago:WikicatPsychologicalTheories New Facet based on Instances of this Class

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. The evaluation of the certainty of the outcome in a previous stage of decisions is disregarded when selecting an option in subsequent stages. Not to be confused with certainty effect, the pseudocertainty effect was discovered from an attempt at providing a normative use of decision theory for the certainty effect by relaxing the cancellation rule.