Problem Solving and Decision Making

Problem Solving Strategies and Obstacles

  • Algorithms

    • Definition: A methodical, logical rule or procedure that guarantees solving a particular problem.

  • Heuristics

    • Definition: A simpler thinking strategy that often allows us to make judgments and solve problems efficiently.

  • Insight

    • Definition: A sudden realization of a problem's solution, contrasting with strategy-based solutions.

  • Cognitive Biases

    • Confirmation Bias
    • Definition: Fixation; the inability to see a problem from a fresh perspective.
    • Example: Mental set.
    • Mental Set
    • Definition: A tendency to approach a problem in one particular way, often in a way that has been successful in the past.

Forming Good and Bad Decisions

  • Intuition

    • Definition: An effortless, immediate, automatic feeling as contrasted with explicit, conscious thought or reasoning.

  • Representative Heuristic

    • Definition: Judging the likelihood of things in terms of how well they seem to represent, or match, particular prototypes.
    • Note: This may lead us to ignore other relevant information.

  • Availability Heuristic

    • Definition: Estimating the likelihood of events based on their availability in memory; if instances of such events come readily to mind, we presume they are more common or likely.

Cognitive Biases: Details

  1. Overconfidence

    • Definition: The tendency to be more confident than correct or to overestimate accuracy of beliefs and judgments.

  2. Belief Perseverance

    • Definition: Clinging to one's initial conceptions even after the basis on which they were formed has been discredited.

  3. Framing

    • Definition: The way an issue is framed can significantly affect decisions and judgments.
    • Note: Framing is used to prevent cognitive dissonance.