Lecture 2 Flashcards

1
Q

Cue

A

Information that people use as a signal to lead them to a decision

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2
Q

Decision Tree

A
  • a hierarchical model for decision making
  • a strategy to help people make decisions
  • Identifies relevant conditions that leads to consequences
  • identifies consequences or outcomes based on listed conditions
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3
Q

Computational Capacity

A
  • the maximum amount of computational power that is available to process information
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3
Q

Normative Models

A
  • an established system
  • used to reach the optimal decision
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4
Q

Prescriptive Models

A
  • how people should make decisions
  • decision optimal given the constrains of time and cognitive resources
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5
Q

Descriptive Models

A

An account of how people actually make decisions

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5
Q

Three categories of models/frameworks in judgement and decision making

A

Normative models -

Descriptive Models - how people actually reach a decision (e.g. Heuristics and Biases)

Prescriptive models - recommendation about hoe people reach the optimal decision (e.g. Fast-and-Frugal Approach)

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6
Q

Heuristic

A

A rule that people use to make decisions

These rules are:
Systematic
Quick to use
Easy to use

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7
Q

Bias

A

Statistical Definition:
- a systematic distortion of a statistical result

  • a statistical preference of one choice over another
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8
Q

Representativeness Heuristic

A

“An event A is judged more probable than an event B whenever A appears more representative then B” (Kahneman & Tversky, 1972)

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9
Q

Fast-and-Frugal Approach Heuristics I

A
  • fast because we reach a decision quickly
  • frugal because simple - does not use a lot of computational power
  • heuristics because we want these rules to be systematically used to make decisions
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10
Q

Fast-and-Frugal Approach Assumptions

A
  • heuristics evolved as a result of interactions with the environment
  • heuristics are adaptive
  • heuristics strike a balance between minimizing computational power and speed, maximizing accuracy
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11
Q

Recognition Heuristic

A

“If one of two objects is recognized and the other is not, then infer that the recognized object has the higher value with respect to the criterion” (Goldstein & Gigerenzer, 2002, p.76

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12
Q

Dual-Process Theory

A

For higher level cognitive tasks:

There are two types of processes

There are two corresponding systems

The goal:
Identify the characteristics of each type of process

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12
Q

Type 1 Systems/Process

A
  • no working memory
  • autonomous
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13
Q

Type 2 Systems/Processes

A
  • working memory
  • not autonomous

Construction of mental models

Cognitive Decoupling

14
Q

Type 1

A

Quick
Easy
Automatic
Not conscious processing
Low computational power
Emotional/intuitive

15
Q

Type 2

A

slow
controlled
conscious processing
high computational power
intellectual/reasoning