heuristics and bias ROCP

Question 1

what are heuristics?

Answer 1

Heuristics are mental shortcuts taken by System 1 to help us make a decision
- save energy
- lead to bias (cognitive distortion)

Question 2

availability heuristics

Answer 2

when people judge the likelihood of an event based on how easily an example of the event comes to mind

Question 3

STUDY ON AVAILABILITY

Answer 3

Kahneman & Tversky 1973
aim: to investigate how the availability heuristic affects judgment
- 152 American college students
- k 1st or 3rd letter
- 2/ 3: k 1st, more examples arise easily
- incorrectly assume due to ah

Question 4

anchoring effect

Answer 4

when values presented in the beginning (anchor) influence posterior judgements

Question 5

STUDY ON ANCHORING

Answer 5

Kahneman & Tversky 1974
aim: to investigate how anchors influence thinking and decision-making
- American university students
- spun a wheel 10 or 65
- % of UN members
- 25 vs 45
- anchors even without a correlation

Question 6

confirmation bias

Answer 6

the tendency to focus on, remember, and believe information consistent with existing beliefs

Question 7

STUDY ON CONFIRMATION BIAS

Answer 7

Stone et al 2010
aim: to see how stereotypes influence the perception of information
- 51 participants
- 20 minute audio + transcript
- white or black
- natural ability, performance, contributions
- black = natural athletic ability
- white = intelligence + effort