Judgement Flashcards
What theories do subjective probability judgements form part of?
Subjective Expected Utility theories of normative decision-making
People make judgements on the basis of…
…heuristics
What are heuristics?
Mental rules of thumb, shortcuts
Don’t always work
Help us to get to a reasonable estimate of the likelihood of something happening
What is the availability heuristic?
Judging probability by ease with which things come to mind
What are the pros of the availability heuristic?
- frequency of events happening is a good tally for how often things come to mind
Frequency isn’t the only thing that can affect the availability of info. What can this lead to?
Biased judgements
Which research highlights the limitations of the availability heuristic?
Tversky & Kahneman (1974) – asked students “does ‘r’ appear more in 1st/3rd position?” –> most pps said 1st position because it is easier to recall words from memory by their 1st letter than their 3rd letter
Slovic, Fischhoff & Lichtenstein (1979) – pps were given a list of causes of death & had to estimate the frequencies of each cause –> pps overestimated ones that were heavily reported in newspapers (murder, fires) & underestimated ones that were rarely reported (emphysema, stomach cancer)
Why is Slovic, Fischhoff & Lichtenstein’s (1979) study good?
It uses source material - we know the correct answers (of the causes of death) & can compare them to pps’ answers
What is the representativeness heuristic?
An assessment of the degree of correspondence between an instance & a category
What helps to drive our likelihood judgement?
How much a set of circumstances looks like another set that has been previously experienced
What are limitations of the representativeness heuristic?
X other things can influence representativeness – it doesn’t always work, is tied to stereotypes
X it doesn’t rely on all the info out there, only a small sub-set –> this can affect our judgements
X can lead to the conjunction fallacy
What is the conjunction fallacy?
When we assume that specific conditions are more probable than a single general one
The conjunction of 2 events can’t be more probable that either of its constituent events
Which researcher/s studied the conjunction fallacy?
Tversky & Kahneman (1983) - the Linda problem
What did Tversky & Kahneman’s (1983) study involve?
Pps were shown a description about ‘Linda’…
“Linda is 31 years old, single, outspoken & very bright. She majored in philosophy. As a student, she was deeply concerned about issues of discrimination & social justice, & also participated in anti-nuclear demonstrations. Put these statements about Linda in order of probability…”
a) Linda is active in the feminist movement
b) Linda is a bank teller
c) Linda is a bank teller & active in the feminist movement
What did Tversky & Kahneman (1983) find?
Pps rated Linda as a feminist quite highly, a bank teller quite low, & a feminist + bank teller in the middle
This breaks the rules of probability because feminist bank tellers are a sub-set of ‘bank tellers’ – it must be more probable that she is a bank teller than a feminist bank teller
What is ‘anchoring’?
A cognitive bias
When we rely too heavily on the first piece of info we are given (the ‘anchor’) when making decisions
What researchers studied anchoring? (x2)
Tversky & Kahneman (1974)
Lichtenstein et al. (1978)
What did Tversky & Kahneman’s (1974) study involve?
Pps had to estimate the answer to sums under time pressure, either…
a) 1x2x3x4x5x6x7x8
b) 8x7x6x5x4x3x2x1