Ch 9 - Desisions Flashcards
1
Q
People are more likely to…
A
Do nothing
2
Q
Expected utility theory
A
If people have info they will decide based on maximum expected outcomes
3
Q
Inductive reasoning
A
Process of using specific evidence to arrive to a conclusion
4
Q
What area lights up when rejecting offer
A
Right anterior insula
5
Q
Framing
A
When 2 objects are phrased influencing a persons decision
6
Q
Deductive reasoning
A
Employing broad principals to predict specific cases
7
Q
Holding on to ones beliefs in the face of opposing evidence is error of which source
A
Backfire effect
8
Q
Anchoring
A
When people are influenced toward a possible value even if they should know better
9
Q
Who is the father or deductive reasoning
A
Aristotle
