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PSY3051 > Judgement and Decision Making > Flashcards

Judgement and Decision Making Flashcards

1
Q

Define

Availability heuristic

A

a mental shortcut that relies on immediate examples that come to a given person’s mind when evaluating a specific topic, concept, method or decision

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2
Q

Define

Base rate

A

the proportion of individual in the population who show the behaviour of interest in a given psychological testing or assessment situation

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3
Q

Define

Belief bias

A

the tendency to judge the strength of arguments based on the plausibility of their conclusion rather than how strongly they support that conclusion

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4
Q

Define

Categorical syllogism

A

an argument consisting of exactly three categorical propositions (two premises and a conclusion) in which there appear a total of exactly three categorical terms, each of which is used exactly twice

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5
Q

Define

Conclusion (of syllogism)

A

a kind of logical argument that applies deductive reasoning to arrive at a conclusion based on two or more propositions that are asserted or assumed to be true

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6
Q

Define

Conditional syllogism

A

It is one whose major premise is a conditional proposition and whose minor premise and conclusion are categorical propositions. It consists of the antecedent and the consequent for the truth of the hypothetical judgment lies in the truth of dependence between the two clauses

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7
Q

Define

Confirmation bias

A

type of cognitive bias that involves favoring information that confirms your previously existing beliefs or biases

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8
Q

Define

Conjunction rule

A

Calculates the probability of two (or more) events BOTH happening

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9
Q

Define

Decisions

A

a conclusion or resolution reached after consideration

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10
Q

Define

Deductive reasoning

A

the process of reasoning from one or more statements (premises) to reach a logically certain conclusion

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11
Q

Define

Dual systems approach

A

This is a concept that individuals have two different sets of decision-making processes

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12
Q

Define

Expected emotion

A

anticipated emotional states associated with a given decision that are never actually experienced

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13
Q

Define

Expected utility theory

A

concerning people’s preferences with regard to choices that have uncertain outcomes (gambles)⁠—states that the subjective value associated with an individual’s gamble is the statistical expectation of that individual’s valuations of the outcomes of that gamble, where these valuations may differ from the dollar value of those outcomes

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14
Q

Define

Falsification principle

A

proposed by scientific philosopher Karl Popper. It proposes that for something to be scientific it must be be able to be proven false. If things are falsifiable (able to possibly be proven false) then they can be used in scientific studies and inquiry

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15
Q

Define

Framing effect

A

a cognitive bias where people decide on options based on whether the options are presented with positive or negative connotations; e.g. as a loss or as a gain

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16
Q

Define

Heuristics

A

the strategies derived from previous experiences with similar problems

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17
Q

Define

Illusory correlation

A

the phenomenon of perceiving a relationship between variables (typically people, events, or behaviors) even when no such relationship exists

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18
Q

Define

Incidental emotions

A

the emotions we carry with us to the decision that have nothing to do with the decision

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19
Q

Define

Inductive reasoning

A

a method of reasoning in which the premises are viewed as supplying some evidence for the truth of the conclusion; this is in contrast to deductive reasoning

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20
Q

Define

Law of large numbers

A

a theorem that describes the result of performing the same experiment a large number of times

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21
Q

Define

Mental model

A

an explanation of someone’s thought process about how something works in the real world

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22
Q

Define

Myside bias

A

occurs when people evaluate evidence, generate evidence, and test hypotheses in a manner biased toward their own prior opinions and attitudes

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23
Q

Define

Neuroeconomics

A

an interdisciplinary field that seeks to explain human decision making, the ability to process multiple alternatives and to follow a course of action

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24
Q

Define

Opt-in procedure

A

The consumer enables direct marketing communication by subscribing in a list or sending a query that he is willing to receive advertisements via e-mail, SMS, etc.

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25
Q

Define

Opt-out procedure

A

Consumers who are not interested in particular marketing measures, or in direct marketing measures in general, can subscribe to a list, which is checked by commercial address brokers

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26
Q

Define

Premise

A

a previous statement or proposition from which another is inferred or follows as a conclusion.

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27
Q

Define

Reasoning

A

the action of thinking about something in a logical, sensible way

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28
Q

Define

Representativeness heuristic

A

assessing similarity of objects and organizing them based around the category prototype (e.g., like goes with like, and causes and effects should resemble each other)

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29
Q

Define

Risk aversion

A

the behavior of humans (especially consumers and investors), who, when exposed to uncertainty, attempt to lower that uncertainty

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30
Q

Define

Social exchange theory

A

a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits

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31
Q

Define

Wason four-card problem

A

a logic puzzle devised by Peter Cathcart Wason in 1966. It is one of the most famous tasks in the study of deductive reasoning

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32
Q

Definition

a mental shortcut that relies on immediate examples that come to a given person’s mind when evaluating a specific topic, concept, method or decision

A

Availability heuristic

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33
Q

Definition

the proportion of individual in the population who show the behaviour of interest in a given psychological testing or assessment situation

A

Base rate

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34
Q

Definition

the tendency to judge the strength of arguments based on the plausibility of their conclusion rather than how strongly they support that conclusion

A

Belief bias

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35
Q

Definition

an argument consisting of exactly three categorical propositions (two premises and a conclusion) in which there appear a total of exactly three categorical terms, each of which is used exactly twice

A

Categorical syllogism

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36
Q

Definition

a kind of logical argument that applies deductive reasoning to arrive at a conclusion based on two or more propositions that are asserted or assumed to be true

A

Conclusion (of syllogism)

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37
Q

Definition

It is one whose major premise is a conditional proposition and whose minor premise and conclusion are categorical propositions. It consists of the antecedent and the consequent for the truth of the hypothetical judgment lies in the truth of dependence between the two clauses

A

Conditional syllogism

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38
Q

Definition

type of cognitive bias that involves favoring information that confirms your previously existing beliefs or biases

A

Confirmation bias

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39
Q

Definition

Calculates the probability of two (or more) events BOTH happening

A

Conjunction rule

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40
Q

Definition

a conclusion or resolution reached after consideration

A

Decisions

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41
Q

Definition

the process of reasoning from one or more statements (premises) to reach a logically certain conclusion

A

Deductive reasoning

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42
Q

Definition

This is a concept that individuals have two different sets of decision-making processes

A

Dual systems approach

43
Q

Definition

anticipated emotional states associated with a given decision that are never actually experienced

A

Expected emotion

44
Q

Definition

concerning people’s preferences with regard to choices that have uncertain outcomes (gambles)⁠—states that the subjective value associated with an individual’s gamble is the statistical expectation of that individual’s valuations of the outcomes of that gamble, where these valuations may differ from the dollar value of those outcomes

A

Expected utility theory

45
Q

Definition

proposed by scientific philosopher Karl Popper. It proposes that for something to be scientific it must be be able to be proven false. If things are falsifiable (able to possibly be proven false) then they can be used in scientific studies and inquiry

A

Falsification principle

46
Q

Definition

a cognitive bias where people decide on options based on whether the options are presented with positive or negative connotations; e.g. as a loss or as a gain

A

Framing effect

47
Q

Definition

the strategies derived from previous experiences with similar problems

A

Heuristics

48
Q

Definition

the phenomenon of perceiving a relationship between variables (typically people, events, or behaviors) even when no such relationship exists

A

Illusory correlation

49
Q

Definition

the emotions we carry with us to the decision that have nothing to do with the decision

A

Incidental emotions

50
Q

Definition

a method of reasoning in which the premises are viewed as supplying some evidence for the truth of the conclusion; this is in contrast to deductive reasoning

A

Inductive reasoning

51
Q

Definition

a theorem that describes the result of performing the same experiment a large number of times

A

Law of large numbers

52
Q

Definition

an explanation of someone’s thought process about how something works in the real world

A

Mental model

53
Q

Definition

occurs when people evaluate evidence, generate evidence, and test hypotheses in a manner biased toward their own prior opinions and attitudes

A

Myside bias

54
Q

Definition

an interdisciplinary field that seeks to explain human decision making, the ability to process multiple alternatives and to follow a course of action

A

Neuroeconomics

55
Q

Definition

The consumer enables direct marketing communication by subscribing in a list or sending a query that he is willing to receive advertisements via e-mail, SMS, etc.

A

Opt-in procedure

56
Q

Definition

Consumers who are not interested in particular marketing measures, or in direct marketing measures in general, can subscribe to a list, which is checked by commercial address brokers

A

Opt-out procedure

57
Q

Definition

a previous statement or proposition from which another is inferred or follows as a conclusion.

A

Premise

58
Q

Definition

the action of thinking about something in a logical, sensible way

A

Reasoning

59
Q

Definition

assessing similarity of objects and organizing them based around the category prototype (e.g., like goes with like, and causes and effects should resemble each other)

A

Representativeness heuristic

60
Q

Definition

the behavior of humans (especially consumers and investors), who, when exposed to uncertainty, attempt to lower that uncertainty

A

Risk aversion

61
Q

Definition

a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits

A

Social exchange theory

62
Q

Definition

a logic puzzle devised by Peter Cathcart Wason in 1966. It is one of the most famous tasks in the study of deductive reasoning

A

Wason four-card problem

63
Q

What is reasoning?

A

Evaluating only the information given

64
Q

What is judgement?

A

Reasoin using given information but going beyond to make a conclusion.

Requires abstractation from the information or discerning a pattern

65
Q

What is decision making?

A

Evaluating given information (like reasoning), making a judgement and then choosing between alternatives

66
Q

What is bounded rationality?

A

Bounded rationality is the idea that in decision-making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision

67
Q

What does the Iowa Gambling Task reveal about the decision-making of substace users?

A

Tend to be biased toward small immediate gains at the cost of larger losses over time

68
Q

What is inductive reasoning?

A

Making judgments on the basis of observations, or reaching conclusions from evidence

69
Q

True or False:

In inductive reasoning, the conclusion is probably, but not definitely true

A

True

70
Q

True or False:

In deductive reasoning, the conclusion is probably, but not definitely true

A

False

The conclusion must be correct if the premises are correct

71
Q

What are some examples of inductive reasoning?

A

Analogical reasoning

Hypothesis testing

72
Q

What type of reasoning is involved in this task?

A

Analogical reasoning

73
Q

What does analogical reasoning involve?

A

Using a relationship between two variables as the basis of a relationship between two other variables

74
Q

This task is testing what type of reasoning?

A is to B as C is to ___

A

Analogical reasoning

75
Q

What does analogical reasoning performance depend on?

A
  • Complication of individual terms
  • Knowledge of the reasoner
  • Ease of finding a relationship between A and B
  • Load on memory
76
Q

What does hypothesis testing involve?

A

Hypothesis testing involves going from the particular (i.e. sample) to the general (i.e. population)

77
Q

True or False:

Hypotheses cannot be confirmed as true, but they can be shown not to be true

A

True

78
Q

How do laypeople perform on the following task?

You are given the numbers 2, 4 and 6 and are told that this triplet of numbers follows a rule, which you have to identify; you are told that the experimenter had a rule in mind

A

People guessed, but tended to just look for evidence for what they were thinking rather than trying to disprove their ideas

  • This strategy belies a tendency to strive toward proving one’s hypothesis instead of disproving it (called confirmation bias)
  • Only 20% of participants solved the problem without error
    • Numbers were ascending
79
Q

What factors influence reasoning?

A

Effects of premise phrasing (positive or negatives)

Quantifiers (all/none easier than some)

The order in which a propositions are presented also affects comprehension

Alteration of premise meaning

Failure to consier all possibilities

Myside bias

80
Q

All A’s are B’s

Some B’s are C’s

Which of these diagrams represents this premise information?

A

They are both possibly with the given information

81
Q

Watching a debate and taking the side of the issue you always take regardless of the evidence is an example of what type of bias?

A

Myside bias

82
Q

What are some examples of heuristics and biases?

A

Myside

Availability

Recognition

Representativeness

Confirmation

etc.

83
Q

People tend to be more afraid to ride in planes than cars despite more people dying in car accidents. What is this an example of?

A

Availability bias

Media covers more plane crashes than car crashes

84
Q

The _________ heuristic proposes that we evaluate the probability or likelihood of an event by judging the ease with which relevant instances come to mind

A

The availability heuristic proposes that we evaluate the probability or likelihood of an event by judging the ease with which relevant instances come to mind

85
Q

The __________ heuristic operates when we assess the degree to which the object of our attention is similar to, or represents, our basic idea (or stereotype) of that object

A

The representativeness heuristic operates when we assess the degree to which the object of our attention is similar to, or represents, our basic idea (or stereotype) of that object

86
Q

Which type of reasoning involves formal rules of proof?

A

Deductive reasoning

87
Q

What are the types of deductive reasoning?

A

Conditional reasoning

Conditional syllogisms

88
Q

In conditional reasoning/syllogisms premises are combined to create arguments

A

In conditional reasoning premises are combined to create arguments

89
Q

True or False:

Conditional reasoning requires both confirming and disconfirming evidence

A

True

90
Q

Conditional reasoning/syllogisms presents two or more premises and requires that we determine whether the conclusion is true or false

A

Conditional syllogisms presents two or more premises and requires that we determine whether the conclusion is true or false

91
Q

______________ present premises that deal with classes of entities

A

Categorical syllogisms present premises that deal with classes of entities

92
Q

“All golden retrievers are dogs” and “No polar bears are inanimate objects” are examples of what?

A

Conditional syllogisms

93
Q

True or False:

If all red books are astronomy books

and all astronomy books are large

then all red books are large

A

True

94
Q

All mammals are animals

All dogs are mammals

Therefore, all dogs are animals

What type of reasoning is this an example of?

A

Syllogistic reasoning

95
Q

What is/are the primary component(s) of decision-making?

Select one:

a. Evaluating the given information
b. Making a judgement
c. Choosing between alternatives
d. All of the above

A

What is/are the primary component(s) of decision-making?

Select one:

a. Evaluating the given information
b. Making a judgement
c. Choosing between alternatives

d. All of the above

96
Q

Inductive reasoning goes from the ___________ to the ___________, and therefore _____________ add knowledge.

Options:

  • adds*
  • external*
  • specific*
  • internal*
  • general*
  • does not add*
A

Inductive reasoning goes from the specific to the general, and therefore adds knowledge.

97
Q

All spiders have 8 legs. A black widow is a spider. Therefore, black widows have 8 legs. This is a form of _______ reasoning.

A

All spiders have 8 legs. A black widow is a spider. Therefore, black widows have 8 legs. This is a form of deductive reasoning.

98
Q

The first lolly you pull out of a bowl is strawberry flavoured. The next lolly you pull out is also strawberry flavoured. Therefore, every lolly in that bowl is strawberry flavoured. This is a form of ________ reasoning.

A

The first lolly you pull out of a bowl is strawberry flavoured. The next lolly you pull out is also strawberry flavoured. Therefore, every lolly in that bowl is strawberry flavoured. This is a form of inductive reasoning.

99
Q

Analogical reasoning uses the relationship between two variables as the basis of a relationship between two other variables. An example of this is:

Select one:

a. Snake is to scaly as dog is to furry
b. Snake is to scaly as dog is to Jack Russell
c. Snake is to scaly as dog is to cute
d. Snake is to scaly as dog is to happy

A

Analogical reasoning uses the relationship between two variables as the basis of a relationship between two other variables. An example of this is:

Select one:

a. Snake is to scaly as dog is to furry

b. Snake is to scaly as dog is to Jack Russell
c. Snake is to scaly as dog is to cute
d. Snake is to scaly as dog is to happy

100
Q

True or false:

A hypothesis can be confirmed as true and can be confirmed not to be true.

A

False

101
Q

Andrew believes that drinking lemon juice can cure the common cold. He Googles his hypothesis and reads all of the information that states lemon juice can cure the common cold. He ignores all pages that state lemon juice cannot cure the common cold. Andrew is experiencing:

Select one:

a. Schema shift
b. The confirmation bias
c. Cognitive dissonance
d. Disconfirming evidence

A

Andrew believes that drinking lemon juice can cure the common cold. He Googles his hypothesis and reads all of the information that states lemon juice can cure the common cold. He ignores all pages that state lemon juice cannot cure the common cold. Andrew is experiencing:

Select one:

a. Schema shift

b. The confirmation bias

c. Cognitive dissonance
d. Disconfirming evidence

102
Q

“I knew this would happen!” is an example of:

Select one or more:

Hindsight bias

Availability bias

Recognition bias

Confirmation bias

A

“I knew this would happen!” is an example of:

Select one or more:

Hindsight bias

Availability bias

Recognition bias

Confirmation bias

103
Q

True or false:

In conditional reasoning, the final truth value of an argument depends on the truth of an individual premise. Categorical syllogisms present two or more premises and require us to determine whether the conclusion is true or false.

A

True

PSY3051 (11 decks)

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