The human brain has around 103 cognitive biases.
After a deep analysis of 41k A/B testing experiments made in the last 6 years, we have identified the most impactful 12 cognitive biases in eCommerce and we have built a product to address them through machine learning.
Meet Automated by Omniconvert:
https://www.omniconvert.com
Humans are so irrational.
Yes we are.
But how irrational and how can we determine and use the cognitive biases as eCommerce marketers?
See in this presentation:
How to convince your boss to use insights and strategies from Behavioral Econ...beworks
Behavioral Economics has revolutionized our understanding of decision making.
We now know that humans are far from perfectly rational. Instead, there are psychological biases that strongly influence people’s choices.
The result is a more accurate prediction of human behavior, which can facilitate desirable business outcomes.
Once you understand the drivers of behavior, you can change behavior.
Humans are so irrational.
Yes we are.
But how irrational and how can we determine and use the cognitive biases as eCommerce marketers?
See in this presentation:
How to convince your boss to use insights and strategies from Behavioral Econ...beworks
Behavioral Economics has revolutionized our understanding of decision making.
We now know that humans are far from perfectly rational. Instead, there are psychological biases that strongly influence people’s choices.
The result is a more accurate prediction of human behavior, which can facilitate desirable business outcomes.
Once you understand the drivers of behavior, you can change behavior.
How to Leverage Behavioral Science Insights for Direct Mail SuccessAggregage
Join Neal Boornazian and Nancy Harhut to discover proven, actionable strategies to leverage behavioral science in your direct mail today, and leave this webinar with a competitive advantage that lets you easily boost your engagement and response rates!
This lecture is part of a business law course focused on ethics and leadership. This is the student's first introduction to implicit bias and heuristics.
Brain Hacking: Using behavioural economics and consumer psychology to improve...David Greenwood
Security is a feeling, based not solely on probabilities and mathematical calculations, but on your psychological reactions to both risks and countermeasures. You might feel that you're at high risk of burglary, medium risk of murder, and low risk of identity theft. And your neighbour, in the exact same situation, might feel that he's at high risk of identity theft, medium risk of burglary, and low risk of murder.
You can be secure even though you don't feel secure. And you can feel secure even though you're not. Learn why we’re predictably irrational, and how you use this new found knowledge to nudge consumers to make better cybersecurity decisions.
Presented at BSides Belfast, 7th September 2017.
https://www.youtube.com/watch?v=uHpXt-PItdk&feature=youtu.be&t=1s
Did you know that our brains are naturally biased? Let's explore the functions of unconscious bias together and navigate their impact on our decision-making processes. We will examine our own background and identities so we can interact more authentically with colleagues, consumers, and the community at large.
Persuasion architectures: Nudging People to do the Right ThingUser Vision
Review of some of the most popular commercial and public sector persuasion methodologies. Plus some reasons why they may not work and some criticisms, and a comparison of how supermarkets persuade us, offline.
Guest lecture within the field of consumer behaviour prepared for the University of Antwerp (applied economics). I explore theories from (social) psychology to demonstrate our essential social nature. In the second part, these lessons are applied for a better new product development and communication.
While making judgments and decisions about the world around us, we like to think that we are Objective,Logical, and
Capable of taking in and evaluating all the information that is available to us.
The reality is that our judgments and decisions are often
riddled with errors and influenced by a wide variety of biases.
The human brain is both remarkable and powerful, but certainly subject to limitations.
One type of fundamental limitation on human thinking is known as a cognitive bias.
How to increase CLV & decrease CAC - Valentin Radu Valentin Radu
No doubt about it: CLV is the north star metric of any retailer.
However, it is also one of the most misunderstood, neglected, and ignored KPI.
As we're collectively saying RIP to cookies, there are 3 jobs to be done by eCommerce leaders:
1. Nail acquisition:
Acquire the right customers at a decent CAC
2. Nail conversion:
Ethically convert customers by matching them with the right products, using the right narrative
3. Nail retention:
Onboard and nurture the right customers so that you make them come back and promote you
All of these 3 activities fall into a broader methodology, called Customer Value Optimization
How to Leverage Behavioral Science Insights for Direct Mail SuccessAggregage
Join Neal Boornazian and Nancy Harhut to discover proven, actionable strategies to leverage behavioral science in your direct mail today, and leave this webinar with a competitive advantage that lets you easily boost your engagement and response rates!
This lecture is part of a business law course focused on ethics and leadership. This is the student's first introduction to implicit bias and heuristics.
Brain Hacking: Using behavioural economics and consumer psychology to improve...David Greenwood
Security is a feeling, based not solely on probabilities and mathematical calculations, but on your psychological reactions to both risks and countermeasures. You might feel that you're at high risk of burglary, medium risk of murder, and low risk of identity theft. And your neighbour, in the exact same situation, might feel that he's at high risk of identity theft, medium risk of burglary, and low risk of murder.
You can be secure even though you don't feel secure. And you can feel secure even though you're not. Learn why we’re predictably irrational, and how you use this new found knowledge to nudge consumers to make better cybersecurity decisions.
Presented at BSides Belfast, 7th September 2017.
https://www.youtube.com/watch?v=uHpXt-PItdk&feature=youtu.be&t=1s
Did you know that our brains are naturally biased? Let's explore the functions of unconscious bias together and navigate their impact on our decision-making processes. We will examine our own background and identities so we can interact more authentically with colleagues, consumers, and the community at large.
Persuasion architectures: Nudging People to do the Right ThingUser Vision
Review of some of the most popular commercial and public sector persuasion methodologies. Plus some reasons why they may not work and some criticisms, and a comparison of how supermarkets persuade us, offline.
Guest lecture within the field of consumer behaviour prepared for the University of Antwerp (applied economics). I explore theories from (social) psychology to demonstrate our essential social nature. In the second part, these lessons are applied for a better new product development and communication.
While making judgments and decisions about the world around us, we like to think that we are Objective,Logical, and
Capable of taking in and evaluating all the information that is available to us.
The reality is that our judgments and decisions are often
riddled with errors and influenced by a wide variety of biases.
The human brain is both remarkable and powerful, but certainly subject to limitations.
One type of fundamental limitation on human thinking is known as a cognitive bias.
How to increase CLV & decrease CAC - Valentin Radu Valentin Radu
No doubt about it: CLV is the north star metric of any retailer.
However, it is also one of the most misunderstood, neglected, and ignored KPI.
As we're collectively saying RIP to cookies, there are 3 jobs to be done by eCommerce leaders:
1. Nail acquisition:
Acquire the right customers at a decent CAC
2. Nail conversion:
Ethically convert customers by matching them with the right products, using the right narrative
3. Nail retention:
Onboard and nurture the right customers so that you make them come back and promote you
All of these 3 activities fall into a broader methodology, called Customer Value Optimization
Customer Experience in eCommerce: Net Promoter ScoreValentin Radu
There is one metric that gives you a lot of hints about how was your customers' experience with your store and that is NPS.
Learn more about Customer Experience and how to apply the NPS in any eCommerce store by signing up our Customer Value Optimization course https://academy.omniconvert.com/courses/cvo-course
Some of your products affect your business more than you think. Find out how to optimize your product assortment.
Learn more about product optimization and how to apply it in any eCommerce store by signing up to our Customer Value Optimization course https://academy.omniconvert.com/courses/cvo-course
Why Customer Lifetime Value matters in eCommerceValentin Radu
Where is eCommerce heading right now? It seems like the old formula of e-commerce growth is broken. Discover what are the metrics that already make a difference in eCommerce and will count in the future.
Expand your eCommerce horizons by joining our Customer Value Optimization course https://academy.omniconvert.com/courses/cvo-course
Do you want to segment customers by their purchase history and relevancy? Then, RFM segmentation is for you.
If you want to learn even more about the RFM segmentation, sign up for the Customer Value Optimization course https://academy.omniconvert.com/courses/cvo-course
E commerce strategy during covid 19 downturn - B2C Growth Summit by GMCValentin Radu
As the whole world is affected by uncertainty, there are still some learnings from the previous downturns.
What are these learnings and how we can apply them to craft a dynamic strategy that takes into account the psychographic segmentation and behavior insights?
How To Web Valentin Radu - Lessons Learned in Getting Our Ideal Customers & K...Valentin Radu
Ignaz Semmelweis & the germs theory: how we decreased our churn by 89% by focusing on what matters in a SaaS company.
From all targets, all markets to our ICP, this is our 3-years journey and 5 of the lessons learned along the way.
The king is dead! Long live the... God? Customer-centricity is becoming a must!Valentin Radu
He knows more about your products than you do. He connects instantly with all the other customers. If he’s not pleased, he can pretty much do anything to send a company into oblivion.
RIP, Thomas Cook.
Omnipotent, omniscient, omnipresent. The customer is not the king anymore. He is more like a God.
In this incredibly demanding, competitive and connected market, we need to understand our customers better than ever.
In this session, I am offering you the means to understand and please the eCommerce God.
You don’t need offerings.
You just need the right offers.
How customer experience will look in an ai driven era - innowaveValentin Radu
They have all the data. But companies keep on ignoring their customers. The companies that will be able to use AI to unify the data and adapt the treatment they offer to each individual, on all the channels, according to the customer expectation, will be the ones thriving and surviving.
RIP Thomas Cook.
5 maladii ale magazinelor de comert electronic - Valentin Radu Gpec 2019Valentin Radu
Ca si oamenii, companiile sufera.
Cateodata, in tacere, fara sa le vada nici chiar creatorii lor.
Dupa 13 ani de comert electronic, am identificat cateva dintre aceste boli.
Simptomele nu sunt tot una cu cauzele, iar preventia e mai buna decat vindecarea.
Drive growth for SaaS through LinkedIn HTW 2018Valentin Radu
SaaS is not an easy game, as companies spend $1.18 to generate $1 in revenue.
In this presentation, I address the acquisition problem by comparing Linkedin Organic with Linkedin Outreach against other channels and disclosing the method to use this to generate growth for SaaS
Customer Journey Optimization - GpEC Summit 2018 PresentationValentin Radu
We're close to live in the experience economy.
But people are still forgetting that we buy emotions, not goods.
In this presentation, I've come up with great customer experience stories, the difference between a standard customer journey and a well-staged customer journey + a bonus regarding how to identify the true loving customers and how to deliver them a great customer journey.
What's being hidden in your Magento - MeetMagento Cluj 2018Valentin Radu
Time and time again, we discover that eCommerce growth is a question of retention, not of acquisition.
But still, 90% of the marketing efforts are towards acquisition, while new customers generate less than 10% of the total margin.
In this presentation that I've held at Meet Magento, I've focused my attention on the untapped opportunity of retention rate optimization, by using the RFM segmentation.
That helps eCommerce managers in 5 different ways:
1. Know your ideal customer profile
Why?
Because you segment them with RFM, you can understand the true lovers: survey them and ask their demographics, barriers and reasons to buy from your website
2. Better advertising costs
Why?
Because you understand who’s your ideal customer ans focus on acquiring more relevant customers with more relevant messages and products for them
3. Higher retention rate & customer lifetime value
Why?
Because you understand who to focus at, offer special prices & experiences to who matters and acquire more customers you actually want
4. More relevant products
Why?
Because you find the brands, products and categories that make your customers churn
5. Better customer service
Why?
Because you can understand who matters and provide priority support, better response rates or tailor-made return programmes
How to deliver sustainable growth for e commerce websites Digital OlympusValentin Radu
How to deliver sustainable growth for eCommerce websites:
1. Measure the right KPIs
2. Set strategic Objectives
3. Brainstorm and generate strategic initiatives
4. Prioritization
5. Experimentation
How & Why to Make Your Magento eCommerce Customer Centric Valentin Radu
In this talk held at Meet Magento, Valentin Radu, CEO at Omniconvert points out to the hidden leverage of eCommerce growth: retention rate & lifetime value optimization + how to become customer-centric by using RFM segmentation.
More on https://www.omniconvert.com
Best Practices in E-Commerce App SelectionValentin Radu
Choosing your E-Commerce platform and planning for your online business requires research and an in depth understanding of what is needed and how to manage the platform when over time. Your digital store needs to be future proof and convert on launch day.
How to rock your post purchase marketing communication to sell moreValentin Radu
How to rock the post-purchase marketing communication to sell more and keep customer for longer? Omniconvert's International Ecommerce Day 2017, presentation from Michal Leszczynski, Content Marketing Manager at GetResponse.
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
2. How to use this in eCommerce?
> Start with a higher price - that’s made at any new collection / product launch - with
the purpose of selling it in the discount period
> First mover’s advantage
>
3. Overconfidence effect:
For certain types of questions, answers that people rate as
"99% certain" turn out to be wrong 40% of the time.
Photo by Cody Davis on Unsplash
6. 600 people infected with a deadly disease.
Treatment A: 400 deaths / Treatment B: 200 deaths
Each treatment was presented in a positive and negative frame. For
example, for treatment A:
● Positive frame: Save 200 lives
● Negative frame: 400 people will die
8. Framing Effect
Drawing different conclusions from the same information, depending on how that information is
presented.
Photo by Khaled Reese from Pexels
10. In the last 6 years, we have gained a lot of
experience.
11. We have analyzed
>41k human-driven A/B testing
experiments made by thousands of
eCommerce websites
12. We identified the most impactful 12
cognitive biases in web experiments.
13. Availability cascade
A self-reinforcing process in which
a collective belief gains more and
more plausibility through its
increasing repetition in public
discourse (or "repeat something
long enough and it will become
true")
Fear of missing out
FOMO is a common concern that
others might be having rewarding
experiences from which one is
absent" This social anxiety is
characterized by "a desire to stay
continually connected.
Bandwagon Effect
The human understanding when it
has once adopted an opinion
(either as being the received
opinion or as being agreeable to
itself) draws all things else to
support and agree with it.
Herd mentality
People’s tendency to follow and
copy what most of them are doing.
They are largely influenced by
emotion and instinct, rather than by
their own independent analysis.
Confirmation bias
People’s tendency to search for,
interpret, or recall information in a
way that confirms one's beliefs or
hypotheses
Anchoring
People’s tendency to rely too
heavily, or “anchor”, on one trait or
piece of information when making
decisions (usually the first piece of
information that we acquire on that
subject).
14. Framing
People draw different conclusions
from the same information
depending on how that information
is presented.
Loss aversion
The disutility of giving up an object
is greater than the utility
associated with acquiring it
Zeigarnik effect
People remember uncompleted or
interrupted tasks better than
completed tasks.
Reciprocity Bias
In reciprocation tendency, people
tend to want to return the favor
when someone helps them or give
them a small favor.
Authority Bias
People’s tendency to attribute
greater accuracy to the opinion of
an authority figure (unrelated to its
content) and be more influenced
by that opinion
Hyperbolic discounting bias:
Is the tendency for people to have
a stronger preference for more
immediate payoffs relative to later
payoffs.
15. 500 data points
12 cognitive biases
6 Type of ML experiments
Thousands of variations