LECTURE 9

Question 1

What is judgment in psychology?

Answer 1

Deciding on the likelihood of events using incomplete information, focusing on accuracy.

Question 2

What is decision-making in psychology?

Answer 2

Selecting one option from several possibilities, often requiring judgment when full information is unavailable.

Question 3

What does Bayesian inference explain?

Answer 3

How to update beliefs (prior probabilities) with new evidence to form posterior probabilities.

Question 4

What is Bayes’ Theorem?

Answer 4

A formula showing how observed data updates prior beliefs to form posterior beliefs.

Question 5

What is the taxicab problem by Kahneman and Tversky (1972)?

Answer 5

A problem illustrating base-rate neglect, where most people ignore prior probabilities and give incorrect answers.

Question 6

What is base-rate neglect?

Answer 6

Failing to consider the base-rate information when making judgments.

Question 7

What is an example of base-rate neglect?

Answer 7

Assuming an eyewitness’s accuracy is enough evidence without considering the relative number of Green vs. Blue cabs in the population.

Question 8

What are heuristics? .

Answer 8

Mental shortcuts or “rules of thumb” used to make decisions quickly and with less effort

Question 9

Who introduced the concept of heuristics?

Answer 9

Tversky and Kahneman (1974).

Question 10

What is the representativeness heuristic?

Answer 10

Judging the likelihood of an event based on how similar it is to a prototype.

Question 11

What is the conjunction fallacy?

Answer 11

Believing the probability of two events happening together is greater than one of them happening alone.

Question 12

What is an example of the conjunction fallacy?

Answer 12

Assuming Linda is more likely to be a “bank teller active in the feminist movement” than just a “bank teller.”

Question 13

What is the availability heuristic?

Answer 13

Estimating the likelihood of events based on how easily examples come to mind.

Question 14

What influences the availability heuristic?

Answer 14

Media coverage and personal experiences.

Question 15

What is anchoring and adjustment?

Answer 15

Making judgments influenced by an initial reference point, even if irrelevant.

Question 16

What is an example of anchoring?

Answer 16

Estimating the number of African countries in the UN based on a randomly spun number.

Question 17

What are fast-and-frugal heuristics?

Answer 17

Simple decision-making strategies, such as “take-the-best,” that ignore some information to make efficient judgments.

Question 18

What is the “take-the-best” heuristic?

Answer 18

A strategy where the best cue is selected, and all other information is ignored.

Question 19

What is the recognition heuristic?

Answer 19

Judging one option as better because it is recognized, while the other is not.

Question 20

What is the affect heuristic?

Answer 20

Using emotional responses to make rapid judgments or decisions.

Question 21

What is Kahneman’s dual-process theory?

Answer 21

It proposes two systems of thought: System 1 (fast, automatic) and System 2 (slow, deliberate).

Question 22

What is System 1 in dual-process theory?

Answer 22

Fast, automatic, effortless, and often emotionally charged thinking.

Question 23

What is System 2 in dual-process theory?

Answer 23

Slow, effortful, deliberate, and more likely to follow rules.

Question 24

What is prospect theory?

Answer 24

A theory by Kahneman and Tversky explaining how people evaluate potential gains and losses differently.

Question 25

What is loss aversion in prospect theory?

Answer 25

People are more sensitive to potential losses than to equivalent gains.

Question 26

What is risk aversion for gains?

Answer 26

Preferring a sure gain over a risky but potentially higher gain.

Question 27

What is risk seeking for losses?

Answer 27

Preferring a risky option to avoid a certain loss.

Question 28

What is the framing effect?

Answer 28

Decisions are influenced by how a problem is worded or presented.

Question 29

What is an example of the framing effect?

Answer 29

People prefer “90% survival rate” over “10% mortality rate,” even though they mean the same.

Question 30

What is the sunk-cost effect?

Answer 30

Investing more resources into a failing endeavor to justify past commitments.

Question 31

What is an example of the sunk-cost effect?

Answer 31

Continuing a costly project (e.g., Concorde jet) despite poor returns.

Question 32

What did Lichtenstein et al. (1978) study?

Answer 32

People overestimate the likelihood of dramatic, well-publicized causes of death compared to less publicized ones.

Question 33

How does prospect theory explain paradoxical decisions?

Answer 33

People are risk-averse for gains but risk-seeking to avoid losses.

Question 34

What is base-rate motivation?

Answer 34

People use base-rate information more often when motivated by high stakes or personal relevance.

Question 35

What is the role of heuristics in decision-making?

Answer 35

They enable quick, efficient decisions but can sometimes lead to errors or biases.

Question 36

What are the advantages of heuristics?

Answer 36

Speed, reduced cognitive load, and usually acceptable solutions.

Question 37

What are the disadvantages of heuristics?

Answer 37

They can lead to suboptimal or incorrect decisions.

Question 38

What does the McGurk effect illustrate?

Answer 38

How visual information can alter auditory perception in speech.

Question 39

How does Kahneman’s dual-process theory summarize human thought?

Answer 39

System 1 is intuitive and fast, while System 2 is analytical and slow.

Question 40

Why are heuristics essential in everyday life?

Answer 40

They allow people to make decisions quickly in complex or uncertain situations.