key term - Incomplete Information

Definition

Incomplete information refers to a situation where we only have access to limited or partial information, leading to gaps in our understanding. This can occur when we lack important details or when the information provided is ambiguous or unclear.

Related terms

Confirmation Bias:

This is when we seek out and interpret new information in a way that confirms our existing beliefs or expectations.

Primacy Effect:

This refers to the tendency for people to remember and emphasize initial pieces of information more than later ones.

Anchoring Effect: The anchoring effect occurs when an initial piece of information (even if it's arbitrary) influences our subsequent judgments or decisions.