Lec 4 Flashcards
Decoy effect in the economist
- what are the two explanations?
- Print tells u the price, it’s quite expensive so it’s a good deal for (P+O)
- Easy comparison
Modified decoy (Print is 114)
if anchoring is key, then…
if easy comparison/free is key, then…
=> results
If it is anchoring (1) that is key, then bias towards it
If it is abt easy comparison and getting smth free, should be much less effective bc there;s a trade off (do i want to pay the extra 5 dollars?)
=> in between, results that show, so works almost as well as decoy
- more of an anchoring effect
Stages where you could have mismatches between the frequency and the world, and the ease of recall
World: if an event gets reported much more often => bias
Exposures: are not equally memorable, deviation from original objective
=> use retrieval from memory
Memory: encoding stage (is it biased?) - some things tend to stick out more, while others don’t
Attribute substitution
(How likely is X?)
- representativeness
- availability
(How good/bad/likely is X?)
- recognition
-how well it fits an example or prototype?
- how easy to generate examples?
substitute w/ sense of familiarity
Recognition heuristic
(football players
Can it (familiarity) provide some valid info?
- yes, it can work bc smth being more common is not random, usually it means they are better or smth like else
- but recognition is subjective
Gigerenzer
- What is the mediator?
Mediator: mass media
- better quality players gain more attention (on average this is the case)
Recognition validity
Relation bet.
Objective quality and subjective familiarity
- varies in range, extent that the amount of exposure is correlated
- poor validity if sampling is not representative
- exposure is not proportional to quality (eg high attention but not related to performance)
Can you manipulate recognition?
- sense that familiarity
- eg in advertisement, companies invest so that u see it more often on the football jerseys
- see it more, feels familiar
- familiarity and recognition are used to infer quality!!
Jacoby et al: becoming famous overnight
Test and 24 hrs later the same test => false alarms about famous names (they are familiar)
Ilusión of truth effect and explanation
- bias toward “true” in T/F statements when judged the second time
=> familiarity is used as a cue for validity (familiar,t Hereford is true)
Failure of Source memory
Not being able to remember the source of the info / knowledge (we are not very good at source knowledge)
- famous overnight is also an example of this
Familiarity and money (Alter and Oppenheimer)
1 dollar (common) 2 dollars (uncommon)
- judge that can buy more with the two 1dollar bills (more familiar)
=> perceive it more familiar and valuable (judgment estimate uses familiarity as a standard for value)
Familiarity and novelty in arts
We do prefer novelty to some extent (can get bored w familiarity)
Stronger force:
Belke et al (2010)
Schwartz’s study
- 2 vs 8 to disassociate the content of retrieved memory, from the EASe of retrieval
=> 2 examples i can come up, so yes i believe pollution will decrease. Can’t come up with 8, so pollution will not improve
=> can come up with 2 examples of why pollution is not improving, but I can’t with 8, so i believe it will improve
Fluency
- sense of easy or difficulty
=> may unconsciously use fluency as a substitute to judge other attributes (eg recognition,
availability - availability may be a fluency effect (even if unrelated to the task)
Difficulty rating (Schwartz)
=> not ease of retrieval, but in general
- read descriptions and judge how difficult from 1-10
- the difference was the font in 2 groups
=> the font that is more difficult rates the same exercise as more difficult
Difficulty in/of processing influenced judgments
Why does processing fluency influence judgment?
Processing fluency is using info (attribute substitution)
We hv awareness of how hard or easy smth is, so could provide more info
Thinking of mental processes / heuristics as meta cognition
Sense how difficult or easy to process/imagine
*still subjective (exposure to mass media)
