Discover what sunk costs are and how the sunk cost fallacy can impact decision-making in personal and business scenarios.

Editor's Note: For 31 years now, Paul Solman's reports on the NewsHour have aimed to make sense of economic news and research for a general audience. Since 2007, our ...

With the constant stream of data about COVID-19, it can be hard to make sense of all the numbers. We look at the base rate fallacy, and how some people are making this mistake when assessing risk.

Forbes contributors publish independent expert analyses and insights. Bryce Hoffman writes about leadership, strategy, and decision making. The gambler’s fallacy is ...

Speak like an insider! Welcome to Snopestionary, where we’ll define a term or piece of fact-checking lingo that we use on the Snopes team. Have a term you want us to explain? Let us know. The red ...

Recently I've been deep-diving into a model of brain, mind, and behavior—active inference and the free energy principle—developed by a leading neuroscientist and computational psychiatrist Karl ...

Narrative fallacy is a term introduced by Nassim Taleb [1]. It refers to our difficulty looking at a sequence of facts without connecting them in some way, either to each other or to something else we ...

All too many people behave as if they are experts in everything. The internet is partially to blame. The widespread availability of information is both a blessing and a curse. Indeed, the adage "a ...

Robert Kelly is managing director of XTS Energy LLC, and has more than three decades of experience as a business executive. He is a professor of economics and has ...