Intelligence and Decision Making

intelligence is often referred to as g, which stands for

general factor

IQ refers to intelligence quotient, which you calculate through

dividing a child’s mental age by their chronological age to create their IQ

flynn effect

when new waves or generations take older tess, it has been found that they outperform the original takers of the test

fluid intelligence

ability to think on your feet

crystallized intelligence

the ability to use language, skills, and experience to address problems

gardner’s multiple intelligences proposes

that people process information through 8 different channels that are relatively independent of each other, suggesting that people learn in different ways

emotional intelligence

emphasizes the experience and expression of emotion, is a set of skills that can understand the emotions of others

studies show a link between emotional intelligence and

job performance

it is not measurable intelligence that sets apart high and low performers, but rather their mindset

those who believe their abilities and intelligence is fixed perform more poorly

what advantages in intelligence do women have over men

better at fine motor skill, acquired knowledge, reading comprehension, decoding non-verbal expression

what advantages in intelligence do men have over women

better at fluid reasoning related to math and science, perceptual tasks that involve moving objects, and tasks that require transformations in working memory, such as mental rotations of physical spaces

stereotype threat

idea that mental access to a particular stereotype can have a real-world impact on a member of the stereotyped group

satisfaction

correspondence between an individual’s needs or preferences and the rewards offered by the environment

satisfactoriness

correspondence between an individual’s abilities and the ability requirements of the environment

why is our ability to make rational decisions limited

time and cost limits how good the information that is available to us is in quality and quantity within our decision making

heuristics

a strategy used to simplify decision-making, sometimes at the cost of logic and rationality

overconfidence

the bias to have a greater confidence in your judgement than is warranted based on a rational assessment

anchoring

the bias to be affected by an initial anchor, even if the anchor is arbitrary, and to insufficiently adjust our judgements away from that anchor

framing

how the choices are presented to us in a decision can greatly affect how we respond to them

how does our behaviour change because our willpower is bounded

we give greater weight to present concerns than future concerns, and our immediate motivations are often inconsistent with our long-term interests

system 1 decision making is characterized by

intuitive, fast, automatic, effortless, implicit, and emotional decision making, used for most everyday processes

system 2 decision making is characterized by

slower, conscious, effortful, explicit, and logical decision making, that is not required for every decision

base rate fallacy

tendency to ignore general information about the frequency of events in favour of specific salient information

conjunction rule

multiple specific conditions cannot be more likely than a single general one

false consensus effect

tendency of people to overestimate the number of people who share their beliefs and behaviours

conjunction fallacy

belief that multiple specific conditions are more likely than a single general one