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Anchoring Bias refers to the common human tendency to rely too heavily on the first piece of information offered (the 'anchor') when making decisions. In e-commerce, this can affect how customers perceive prices and discounts, often basing their decisions on the initial price they see rather than the actual value of the product.

Social Proof is the concept where people copy the actions of others in an attempt to undertake behavior in a given situation. In the context of e-commerce, social proof is used through customer reviews, testimonials, and user counts to encourage potential buyers to make a purchase, assuming that the popularity of a product confirms its value.

The Scarcity Principle is derived from the idea that people place higher value on things that are scarce. In e-commerce, when a product is advertised as being in limited supply ('Only 3 left in stock!'), it creates a sense of urgency among buyers, leading to increased conversions.

Choice Paralysis occurs when people find it difficult to make a decision when faced with many options. For e-commerce, providing too many product choices can overwhelm customers and potentially reduce sales. Simplifying choices can improve conversion rates.

Bounded Rationality refers to the concept that in decision-making, individuals are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision. In e-commerce, bounded rationality can lead to simpler and quicker, but not necessarily optimal, purchase decisions.

The Decoy Effect is a phenomenon where consumers change their preference between two options when presented with a third option that is asymmetrically dominated. In e-commerce, this can be used by presenting a third, less attractive option to make one of the original choices more appealing, often resulting in higher sales for that option.

Reciprocity is a social norm where if someone does something for you, you naturally want to return the favor. In e-commerce, this can be leveraged by offering freebies, discounts, or valuable information to customers, increasing the likelihood that they will make further purchases out of a sense of obligation or gratitude.

Loss Aversion is the tendency to prefer avoiding losses to acquiring equivalent gains. In e-commerce, this principle suggests that potential loss feels worse than a potential gain of the same size. Thus, sales tactics like limited-time offers prey on this aversion by emphasizing what customers will miss out on if they don't act.

The Commitment and Consistency Principle is based on the idea that once people commit to something, they are more likely to go through with it to avoid being inconsistent. In e-commerce, this principle is applied by having customers commit to small initial actions, which increases the likelihood of them following through with a purchase.

The Endowment Effect occurs when owners value something more highly simply because they own it. In e-commerce, this can impact the effectiveness of 'try before you buy' options, where once customers feel ownership of a product they are less likely to return it.

The Halo Effect is a bias where our overall impression of a person (or a brand/product) colors our judgment about their specific traits. In e-commerce, a positive impression of a brand can lead customers to view their products more favorably, which can be advantageous in competitive markets.