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bounded rationality
considering available info, evaluating alternatives & picking the best possible option
bounded will power
we don’t always do what we know is best
bounded self-interest
we consider outcomes for others, not just ourselves
bounded ethicality
we may not be aware of ways we violate our own ethics
bounded awareness
may fail to notice obvious information that is available
heuristics
mental shortcuts → making decisions without analyzing every detail
system 1 thinking (implicit)
thinking that is fast, intuitive, automatic, effortless, & emotional
system 2 thinking (explicit)
thinking that is slow, deliberate, effortful, & logical
biases
ways our reasoning & decision making tends to be systematically distorted
confirmation bias
seeking evidence that supports us, and denying evidence that does not
overconfidence effect
when people tend to overestimate their abilities
anchoring effect
when making estimates, an initial numerical anchor is likely to influence the size of the estimate
framing bias
how you frame a sentence/question will influence how others will respond
representative heuristic
judging the probability of an event based on how similar it is to a prototype (category based)
availability heuristic
when asked to judge how likely something is, instead you judge how easy it is to recall it
intelligence
has no standard definition!
abstract reasoning
ability to understand hypothetical concepts rather than concepts in the present
learning
acquiring new knowledge
adapting
to new circumstances → benefitting from experience
Spearman’s g
general knowledge, a singular factor that accounts for overall intellect
Sternberg’s 3 intelligences
analytical, practical, creative
Howard Garner’s multiple intelligences
8 different types of intelligences
fluid intelligence
capacity to learn new ways of solving problems → thinking on your feet, harder for older people
crystallized intelligence
ability to use accumulated knowledge of the world to solve problems → fluid may flow into this
standardized tests
administered in the same way
normed
constructed so that results are normally distributed with a mean of 100
Flynn effect
overtime, the average score on intelligence tests has increased
eugenics
selective breeding of human populations to improve desired characteristics
WAIS test
most widely used modern intelligence test
growth mindset
believing abilities are changeable
fixed mindset
believing abilities are not changeable