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anchoring and adjustment
making a quick estimate based on memory or on info provided in the problem then adjusting the estimate
availability heuristic
events that are more easily remembered are judged to be more probable than events that are less easily remembered
backfire effect
occurs when support for a particular viewpoint gets stronger when faced w/corrective facts opposing their perspective
base rate
relative proportion of different classes in a population, failure to consider base rates frequently leads to reasoning errors
belief bias
tendency to think a syllogism is valid if its conclusion is believable or invalid if the conclusion is not
categorical syllogism
syllogism where the premise and conclusion describe the relationship btwn 2 categories using statements that begin with all, no, or some
conditional syllogism
syllogism w/two premises and a conclusion but the first premise is an “if, then” statement
confirmation bias
looking for info that conforms our hypothesis and ignoring those who differ
conjunction rule
probability of the conjunction of 2 events, which can’t be higher than the probability of the single constituents
decisions
making choices btwn alternatives
deductive reasoning
involves syllogisms in which a conclusion logically follows from premises
dual systems approach
2 mental systems that have different capabilities and serve various functions
expected emotion
emotion that a person predicts he or she will feel for a particular outcome of a decision
expected utility theory
ppl r rational and if they have all the relevant info they will make a decision that is most beneficial
falsification principle
reasoning principle that to test a rule, one must look for situations that would falsify the rule
framing effect
how decisions are influenced by how the choices are stated
heuristic
rule of thumb that provides a best-guess solution to a problem
illusory correlation
appears to exist btwn 2 events when there actually is no correlation or a very weak one
incidental emotions
emotions not directly caused by the act of having to make a decision
inductive reasoning
conclusion follows from considering evidence, probably true rather than def true
judgment
making a decision or drawing a conclusion
law of large numbers
larger the # of ppl randomly drawing from a population, the more representative the resulting group will be of the entire population
mental model
specific situation as represented in a person’s mind
mental model approach
in deductive reasoning, goal is to determine whether syllogisms are valid by creating mental models of situations based on the premises of the syllogism
myside bias
type of confirmation bias where ppl generate and test hypotheses in a way that is biased toward their opinions and attitudes
neuroeconomics
approach to studying decision-making combining psych, neuroscience, and economics research
opt-in procedure
person must take an active step to avoid a course of action, choosing not to be an organ donor
opt-out procedure
person must take an active step to avoid a course of action
permission schema
if u satisfy A, u get to do B. explain the results of Wason four-card problem
premise
1st two sentences in a syllogism, third statement is a conclusion
reasoning
ppl start w/info and come to conclusions that go beyond the info
representativeness heuristic
probability that an event A comes from class B can be determined by how well A resembles the properties of class B
risk aversion
tendency to make decisions that avoid risk
risk aversion strategy
governed by the idea of avoiding risk, used when a problem is stated in terms of gains
risk-taking strategy
governed by the idea of taking risks, used when a problem is stated in terms of losses
spurious correlation
is also called illusory correlation
status quo bias
tendency to do nothing when making a decision
stereotype
oversimplified generalization about a group/class of ppl that often focus on negative characteristics
syllogism
oversimplified generalization about a group or class of ppl that often focuses on negative characteristics
sunk cost
time, money, or other investment that stops you from quitting
ultimatum game
proposer is given a sum of money, offers a responder how this money is split btwn them, responder but choose to accept the offer or reject, used to study ppl’s decision-making strategies
validity
quality of a syllogism whose conclusion follows logically from its premises
wason four-card problem
conditional reasoning task, used to study the mechanisms determining the outcomes of conditional reasoning tasks
incubation is faciliated by
daydreaming and associated with higher DMN
weighing the strength of evidence for inductive reasoning
number of observations, quality of evidence, representativeness of observation
types of illusory correlations
superstitions and stereotypes
representativeness is influenced by
stereotypes, beliefs, insensitivity to sample size/base rate
sample size effects the
accuracy of an estimate but ppl sometimes don’t take account of that
3 aspects of confirmation bias
belief perseverance, attitude polarization, irrational primacy effect
motives for disinformation
propaganda, passion, politics, provocation, parody
types of disinformation
false, manipulated, contextual
click restraint
pause when a social media post triggers fear, anger, or vindication
lateral reading
look for better coverage on credible platforms
deductive reasoning is usually
based on law, rules, or principles
ppl are still good at problems that don’t
involve familiarity, cheating, or permission