14 Thinking & Decision-making II

Question 1

Everyday thiking is sometimes LOGICAL but is prone to…

Answer 1

ERRORS

Question 2

An example of BIAS in everyday thinking?

Answer 2

Wason’s Card Selection task

Question 3

What TYPE of BIAS is found in Wason’s Card Selection Task?

Answer 3

Confirmation bias

Question 4

Define Confirmation bias

Answer 4

Tendendy to seek out information that will CONFIRM a belief, and NOT seek information that is inconsistent with a belied
= “TRYING” to confirm what you think

Question 5

Name the 2 BIASES that affects everyday thinking

Answer 5

Confirmation bisa

Framing effect

Question 6

What are the 2 CONDITIONS to show the FRAMING effect?

Answer 6

GAIN frame = gain highlighted (eg. 200 people SAVED)

LOSS frame = loss highlighted (eg. 400 people DIE)

Question 7

What do people TEND to do in the 2 frames?

Answer 7

GAIN frame = tend to AVOID RISK and be certain of the gain

LOSS frame = tend to prefer RISKY option to AVOID LOSS

Question 8

Define heuristic

Answer 8

A strategy that does NOT guarantee the correct answer, but offers a SHORT-CUT that seems LIKELY TO WORK

Question 9

2 common decision-making HEURISTICS are?

Answer 9

Representativeness heuristic

Availability heuristic

Question 10

Give an example of an EXPERIMENT showing Representativeness heuristic

Answer 10

1. Is Jack a lawyer/engineer?
   In BOTH conditions, people thought Jack was 90% a LAWYER
2. Is Linda a bank teller OR a FEMINIST bank teller?
   Because of her description, most people thought she was a FEMINIST bank
   teller

Question 11

What rule is IGNORED by people in the lawyer/engineer experiment?

Answer 11

BASE-RATE rule

Statistically, Jack is more likely to be an engineer in condition 1 (70 engineers vs 30 lawyers)

Question 12

What PROBLEM is shown by the bank teller example?

Answer 12

Conjunction Fallacy

Question 13

Explain the Conjunction Fallacy

Answer 13

Probability of TWO tings being true must be LOWER than 1 thing
=”bank tellers” INCLUDES “feminist bank tellers”
= P(Linda being a FEMINIST bank teller) must be lower!

Question 14

Define the AVAILABILITY heuristic

Answer 14

Judge the likelihood of events by how easily they COME TO MIND
(PREVALENCE in memory)

Question 15

Give some examples of the Availability heuristic

Answer 15

*Is death more common by breast cancer OR diabetes?
Most choose breast cancer, but DIABETES deaths are more common

*List of people with FEW FAMOUS WOMEN and more non-famous men
People thought there were MORE WOMEN (more prevalent in memory due to fame)