Psychology and Cognitive Concepts

What are the two cognitive ‘systems’?

Automatic and Deliberate (System 1 & 2)

Who coined the concepts of systems thinking?

Kanneman also Standvich and Westold

What is the maximum limited capacity of the brain? (# of Blocks)

Seven Blocks

What is the term that secrete a system and heuristics? (Chess)

Expert Intuition

Evidence that supported by System I verdict is scrutinized loosely and accepted committing a bias, what bias is getting committed?

Conformation Bias

Evidence that threatens is scrutinized intensely and often disregarded committing a bias, what bias is getting committed?

Disconformation Bias

Most Biases are System I Outputs that System II Fails to Override? How to avoid?

Answer may Vary.

Bounded Rationality and Satisficing, What does it mean Satisficing?

Satisficing = Satisfy + Suffice

Herbert Simon’s Challenge? What is it?

Perfect Rationality

What is the goal of if a person is ‘Perfectly Rational’?

Maximize Ulitity

Process of Perfect Rationality, what is the objective?

Have all information → list all option → Pick the best option.

According to Herbert Simon (1955-1956), says otherwise contradict his findings; what is it?

“This is not how humans actually decide.” “People are not Perfectly Rational".”

What are the Critiques:

information, Computation, and Time Problem

Satisficing is a shortcut that makes people less Rational.

It is the process of choosing the first option that meets the acceptibility threshold, instead of absolute best.

What are the habits to avoid and labeled as ‘Not Good’ in Bounded Rationality

-Aspiration Level

-Search Sequentially

-Stop Rule

What are the limits of Bounded Rationality?

I - Information Complete

C - Cognitive Capacity
T - Time Bound

What is the view of Ecological Rationality to ‘Heuristics’?

It is viewed that Heuristics are not just Biases (Heuristics are tools that are well developed to a specific environment

What is the quote of Gerd Gigerenzer about Heuristics?

“A heuristics is rational if it works in the world it evolved for”

Mind + Environment =

Possible Good Decision

Fast and Frugal, who claimed that “less is more”?

Gerd Gigerenzer (He challenge Kanneman)

What does it claim in Recognition Heuristics (Gigerenzer)?

Which city is bigger San Diego or San Antonio?
-If someone recognized one city and not recognized the other one, it would more likely pick the recognized.

Same as the principalities of the world it recognize the ‘bigger’.

It is a mental shortcut; simplified procedure for arriving at a certain judgement or decision.

Heuristics

What heuristics exchange for speed? (Speed > ?)

Accuracy

Target and Heuristic Attribute

What are the two types of Attribute?

Target Attribute

What is attribute property that you need to judge thing?

Heuristics Attribute

What is the attribute property that is computationally cheaper to assess?

Heuristics and Biases

Program views mental shortcuts as flawed deviations from formal logic.

Ecological Rationality

Views those same shortcuts as highly adaptive tools tailored to succeed in specific real-world environments.

Outcome

Bias primarily focused on the _____ systematic (non-random) deviation from a normative standard.

Process

While heuristics is associated with the ______ itself of arriving to something with a mental shortcut

Heuristics

Ex. Judging frequency by how easily instances come to mind

Bias

Ex. Overestimating the frequency of plane crashes relative to their actual base rates

Why does it is easy to etch in mind the threat in high stake danger during ‘Caveman Days’. (Heuristics)

Media World Heuristics

It caused biases because the it shows dramatic events, result they don’t show boring, common naturally seen in a similar basis.

What times when Brain Mismatch Occur? Explain how it happens. (Answer may Vary)

Availability Heuristics

We tend to make processing shortcuts that ends up into a deviated judgement? What Heuristics?

Representative Heuristics

It is a heuristics that naturally categorized people based on displayed behavior and patterns in a category?

Anchoring Heuristics

What is the heuristics that deviate from initial value given and evaluated independently.