Tag

economics

Entries tagged with economics - exploring this theme across cognitive biases, logical fallacies, mental models, and more.

6 concepts

Logical Fallacy

Lump of Labour Fallacy 

The mistaken belief that there is a fixed amount of work available in an economy, so one group's gain must be another's loss.

 Systems Thinking

Network Effects 

When a product, platform, or system becomes more valuable to each user as more people use it - creating powerful winner-take-all dynamics.

 Mental Model

Opportunity Cost 

Every choice has a hidden price tag: the value of the next-best thing you gave up by choosing this one.

 Political Theory

Regulatory Capture 

When the agencies meant to regulate an industry end up serving its interests instead.

 Psychological Phenomenon

Relative Deprivation 

Feeling worse off based on who you compare yourself to, not on what you actually have.

 Cognitive Bias

Zero-Sum Thinking 

The assumption that any situation is a competition where one person's gain must be another's loss.