Law of small numbers
Under this law the people tend to underestimate the variability
due to small numbers involved. Here the belief is that the number
of sales per day will be maintained and the deviation and risk of
losing out on sales is ignored because the number considered is
small.
Mental accounting is the tendency of people to separate the
money into different accounts. Anchoring and adjustment is a
technique in which a person uses a specific number as a starting
point and adjust that information until an acceptable value is
reached. Bubble and crashed theory refers to the expectation of a
sudden increase and fall in the value of assets. Confirmation bias
is the tendency to search for information in such a way that
confirms ones preexisting bias.