1/9
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
Theory of Bound Rationality
limitations to the human mind
ex. throughly examining all cerals available in the US and choosing the best option
Satisficing
“good enough”
Availability heuristic
believing plane crashes are more common than car crashes bc it’s on the news more
Base-rate fallacy
individual stories > statistics
Representativeness heuristic
Associating a group with an attribute
ex: bank tellers
Intuition / lay belief
“gut feeling”
Price-Quality Intuition
more expensive the product —> better quality
Scarcity
ex: Supreme always shooting lower than demand so product is “rare”
Anchoring-and-adjustment
ex: car negociations
decoy-affect / asymmetric dominance
ex: choosing popcorn size at theater — “might as well”