Cognitive Biases Flashcards
1
Q
Heuristics
A
Mental shortcuts used to make decisions or solve problems quickly.
2
Q
Cognitive Biases
A
Errors in thinking or decision-making caused by relying on heuristics. They cause deviations from rational judgments.
3
Q
Representativeness Heuristic
A
The belief that random events follow a pattern, often leading people to make incorrect predictions based on small samples.
4
Q
Gambler’s Fallacy
A
The mistaken belief that past random events affect future outcomes, like thinking you’re “due” a win after a losing streak.
5
Q
Availability Heuristic
A
The tendency to overestimate the likelihood of events based on how easily they come to mind, such as recent experiences or media reports.
