How can so many people say Don't go for 2?
This might be a good place to start.
The particular bias that I think is most explanatory isn't listed on that page (that I could find). I think it's
this one:
[Our intuitive] view of probability, for instance, functions largely by classifying gambles into three categories—impossible, possible, or certain. One result is that an increase in probability within the middle category, say from 50% to 60%, appears less significant than an increase of the same size from 0% to 10% or from 90% to 100%.
If you go for two and fail, the probability of a win moves, in our natural intuition, from the the
possible category to the effectively
impossible category. If we make the two-point conversion, the probability of a win goes from being
possible to still just being
possible. And if we go for one, we'll make it and the probability of a win goes from being
possible to still being
possible.If we ignore the various gradations
within the
possible category and instead just look at potential movements
among categories, it's intuitively obvious that we should go for one.