Decision Making Flashcards
The cognitive perspective is that the decision making process must be regarded as ….
a continuous process integrated in the interaction with the environment
The psychological perspective on decision making is that it is necessary to examine individual decisions in the context of a set of _____
needs, preferences, and values
Normative perspective on decision making is the analysis of
logic and rationality and the invariant choice it leads to
Contrast normative and descriptive theories
normative theories tell us how we should make rational decisions vs. descriptive theories tell us how we actually make decision, now on how we should make them
behavior can deviate from normative accounts in ____ ways
systematic
System 1
Rational, controlled, conscious, cold, reflective, forward-looking, effortful and exhaustible, ANALYTIC
System 2
Emotional, automatic, unconscious, hot, reflexive, myopic, effortless, fast, AFFECTIVE
Rational and cognitive systems are generally associated with ______
prefrontal/parietal cortex
Value systems are generally associated with the _____
dopamine system (striatum, vmPFC)
Emotional systems are associated with the ___ and ___
amygdala and insula
In the marshmallow test, correlational results included (as teenagers and as adults)
as teenagers: higher scores on standardized tests, more popular, more confident; as adults: job success, criminal convictions, physical health, credit score
Findings highlights aversive processes in the _____ as underlying the default bias and suggest that choosing the default may be rewarding in itself
insula
Product preference activated the _____
nucleus accumbens, i.e. the caudate aka the striatum
Excessive prices activate the ______ and deactivate the ____ prior to the purchase decision
insula; medial prefrontal cortex
Goal-directed decisions have their basis in a common value signal encoded in the _______
ventromedial prefrontal cortex (vmPFC)
