What does the term "focalism" describe in decision-making?

Focalism refers to the cognitive bias where people tend to focus too heavily on a particular event or outcome while neglecting other relevant information or potential consequences. This often results in an exaggerated estimation of the impact that the event will have on their overall happiness or well-being. For instance, when deciding whether to take a new job, individuals may concentrate solely on the salary increase without considering other factors such as job satisfaction, work-life balance, or the potential stress of the new role. This excessive focus can lead to poor decision-making because it skews an individual’s perspective and leads them to overlook important aspects that could affect their overall experience. Thus, the definition of focalism as excessive focus on one event accurately captures the essence of how this cognitive bias affects decision-making processes.