Belief that your situation is a zero sum situation and competing - even when there are unlimited resources.
We underestimate time saved when moving from a relatively smaller speed to higher speed. Also, we overestimate time saved when moving from a relatively faster speed to even faster speed.
People confuse selection factors with results.
Concentrating on the people/things that got past a selection point.
The brain sometimes ignores multiple warnings signals.
Number of items that can be held in short term memory: 7 +/- 2
People mistake the face value of money(the amount of money) with the real value(what it can buy).
It describes the widely experienced difficulty of accurately estimating the time it will take to complete tasks of substantial complexity.
People don't easily change existing belief even when presented with new evidence.
We tend to overvalue the specific information - rather than integrating it with general information like the base rate.
Belief that if it's possible, then it's probable.
People tend to assign subjective value to money - this is susceptible to biases, thinking flaws.
Belief that probability of the whole is lesser than the sum of probabilities of the parts.
Less likely to spend a large denomination currency than the equal value in smaller notes.