Planning fallacy

People consistently underestimate the amount of time it will take to do something. Planning fallacy means that plans may not be fully completed because each task takes longer than expected.

Applications

• A person has a to-do list and enrolling in health insurance during the open enrollment period is on the list. But work is busy and they don’t get through their list, so they miss the period to enroll.

• A person creates a list of things to do that day, including buying food for dinner, finishing painting their home, preparing dinner, and taking their child to a routine immunization. Everything takes longer than expected and they miss taking their child for the immunization.