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divergent thinking
the expansion of alternative solutions to a problem
convergent thinking
narrowing down a list of alternative solutions to a problem to arrive at a single answer
theory of bounded rationality
economic theory that people focus on only a few facets of available options
availability heuristic
basing a decision on the case with which a relevant example comes to mind
representatives heuristic
basing the estimating probability of van event on how similar it is to ones schema of that event
framing
the way decision are presented
conjunction fallacy
faulty reasoning that infers that 2 conjunctions are more likely than one broad grouping
gamblers fallacy
belief that the odds of a chance event increase if the event hasn’t occurred recently
sunk cost fallacy
tendency to continue with a course of action in which significant resources have already been spent
assimilation
taking in new info but not changing a schema in light of it
accommodation
taking in new info and modifying the schema or creating a new one in light of it