Thinking and Decision-Making | Psychology

Thinking

The process of using knowledge and information and applying it to different situations.

Decision-Making

The process of making an option based on one’s values.

Dual-Process Model

A model suggesting two systems of thinking.

System 1

Intuitive Thinking
Uses heuristics, mental shortcuts that makes us think in a reductionist way, it’s a fast way of thinking that makes us prone to errors.

• Fast-Paced

• Effortless

• Automatic

System 2

Rational Thinking
Takes all possibilities into consideration, carefully with time, eliminating several to come to the best solution.

• Slow-Paced

• Effortful

• Conscious

Anchoring Bias

A bias relevant in thinking and decision-making, it is defined as the first piece of information recieved that influences our next decision.

Englich and Mussweiler (2001)

Anchoring bias within system 1 that has an effect in determining sentences in courtrooms.

Tversky and Kahneman (1974)

Anchoring bias within system 1 that has an effect in mathematics.