4. Perceptions and Attributions

Selective Attention

Noticing certain things while ignoring others based on interests, experiences, and attitudes.

Heuristic

A shortcut in decision-making.

Confirmation Bias

The tendency to focus on information that supports existing beliefs or decisions.

Attribution Biases

The misinterpretation of the causes of events or behaviors.

Common Errors

Includes the Primacy effect, Recency effect, and Peak-End Effect.

Availability Bias

The reliance on information that is easily recalled.

Pygmalion Effect

Higher expectations lead to improved performance.

Dunning-Kruger Effect

Low-skill individuals overestimate their abilities while experts underestimate theirs, leading to overconfidence.

Randomness Error

The belief in the ability to predict random events, contributing to overconfidence bias.

Escalation of Commitment

Continuing with a bad decision despite negative information, such as with failing projects.

System 1

Fast, automatic, and emotional decision-making; often described as 'cognitive misers'.

System 2

Slow, deliberate, rational, and effortful decision-making, typically used for important decisions.