Me 2.2b Thinking, Problem Solving, Judgements, and Decision making: Solving Problems and Making Decisions Add a short description of the topics covered in this deck Study D Flashcards
cognitive processes that allow us
to plan, organise, and carry out goal-directed behaviours
Executive functions
step-by-step procedures that guarantee a solution by trying all possible options Example: Solving a math problem by systematically testing every possible answer until you find the correct one
Algorithms
mental shortcuts that simplify decision-making but can lead to errors. Example: guessing only a couple logical solutions to get the right one.
Heuristics
A tendency to only search for information that supports us and ignore or distort contradictory evidence.
Confirmation Bias
The difficulty in trying to see the world from a new perspective.
Fixation
A tendency to approach a task from one particular way, often a way that has been successful in the past. Predisposes how we think
mental set (fixation)
An effortless, immediate, automatic feeling or thought as contrasted with conscious memory.
Intuition
Making judgments based on how well something matches a prototype
Example: Assuming someone is a librarian because they
are quiet and enjoy reading, fitting the librarian stereotype
Representativeness heuristic
Basing judgments on the most readily available information
Example: Overestimating the danger of flying after hearing about
a plane crash, because it’s the most recent and vivid information
Availability heuristic
The tendency to be more confident than right.
Overconfidence
people underestimate the time it will take to complete a future task, despite knowledge that previous tasks have generally taken longer than planned.
Planning fallacy
Continuing a behaviour due to previously invested resources
Example: Not selling ZJYL because I already spent 200$ on it and believe it will go up.
Sunk-cost fallacy
Believing that past events affect the likelihood of future events
Example: Thinking that a coin is “due” to land heads after several tails
Gambler’s fallacy
The persistence of one’s beliefs even when facing face-down evidence of it being wrong. Considering opposing arguments reduces bias.
Belief Perseverance
Decisions can be swayed by how information is presented
Example: Being more likely to buy something advertised as “90% fat-free” rather than “10% fat.”
framing
It is recognition born of experience, adaptive, and based on unconscious stuff and therefore vast.
Why is intuition good?
