Mind!

Question 1

Fundamental attribution error

Answer 1

Human tendency to assume others are operating based on personality or tendency while we make decisions based on context and situation.

In reality, almost all is contextual or situational

Question 2

Economist believe we should use _____to make decisions

Answer 2

Cost benefit analysis

Question 3

Sunk costs spending

Answer 3

Throwing good money after bad. Better to cut losses.

Question 4

Loss aversion theory

Answer 4

People typically avoid chance, even when odds are with them and risk would be beneficial

Question 5

Law of large numbers

Answer 5

Small sample size causes outliers to be more important while large sample size causes a reduction to the mean

Question 6

Dialectic

Answer 6

Approach not based on logic but on hold in conflicting viewpoints and contextual clues as more important.

Question 7

Deductive reasoning

Answer 7

Hypothesis with evidence to verify such as scientific method

Question 8

Inductive

Answer 8

Broad generalization based on specific evidence. More common and likely though probably conclusion only.

Question 9

Affect hueristic

Answer 9

Where judgements and decisions are guided directly by feelings of liking or disliking

Question 10

Law of least effort

Answer 10

If there are several ways of achieving the same goal, people will eventually gravitate to the least demanding course of action. The law applies to cognitive as well as physical exertion.

Question 11

Ben Franklin effect

Answer 11

Those who do you favors are more likely to do another, or like you, than those you do favors for. Results from cognitive dissonance

Question 12

System 1 (Kahneman)

Answer 12

Intuitive, automatic, with little to no effort

Has biases, cannot be turned off but it is typically very effective in protection and estimation.

Question 13

System 2 (Kahneman)

Answer 13

Allocates attn to meaningful activities, complex computations, concentration and choice.

Overcomes impulses of system 1 but wears itself out at times.

Question 14

Ego depletion

Answer 14

Term describing evidence showing that an effort Of will or self control is tiring; if you have had to force yourself to do something, you are less willing or less able to exert self control when the next challenge comes around

Question 15

Rationality vs. intelligence

Answer 15

Intelligence tests do not take into account the rational will to engage which is different among groups.

Question 16

Associative machine

Answer 16

The way the mind (system 1) makes assumptions and judgements without our implicit knowledge. Often resulting in choices we thought we made willingly.

Question 17

Streisand effect

Answer 17

Attempting to destroy something out of hate or malice causes it to be preserved and disseminated.

Question 18

judgmental heuristics

Answer 18

Quick mind decisions to save mental power. Often right, but open to manipulation

Question 19

Just because rule

Answer 19

When we ask someone to do something and give them a reason, they are far more likely to do it.

Question 20

The Contrast Principle

Answer 20

When two things are different from each other and we have to make a decision we typically see them as more different than they really are

Question 21

Fixed action patterns

Answer 21

Automatic patterns of action that animals employ following a trigger feature engages them.

Typically work to our advantage.m but can be used to dupe us. Ex. If you ask for a favor give a reason you need it and it will engage people’s fixed action patterns.

Question 22

Contrast principle

Answer 22

When comparing two things, one after the other, the difference will seem more vast.

Ex. Sell the expensive item first so the second item seems cheaper or real estate with “setup houses”

Nearly undetectable

Question 23

Rule of reciprocation

Answer 23

The human need to return a kindness or favor in turn.

Ex. Christmas cards, LBJ,

Part of human experience in every culture so it typically overwhelms other factors

Question 24

Factor analysis

Answer 24

Down a group of questions to determine how many genuine questions with valid results can be ascertained

Question 25

The principle of social proof

Answer 25

It states that one means we use to determine what is correct is to find out what other people think is correct.

Question 26

Foot in the door technique

Answer 26

Tactic of starting with a small request in order to gain eventual compliance with related larger requests.

Question 27

Consistency principle

Answer 27

The drive to look and be consistent, created to help humans maintain social acceptance

Question 28

Halo effect

Answer 28

when one positive characteristic of a person dominates the way that person is viewed by others.

Question 29

Hueristic Theory

Answer 29

Kahneman theory that people will associate with existing similar thoughts (1st brain) instead of creating a new thought process or viewing it uniquely.

Ex. A kid will think octagon not triangle when seeing a circle the first time.

Judge based it on past cases, not the unique situation it is.

Question 30

Anchoring theory

Answer 30

Thoughts and decisions are based on the environment at the moment, more than realized.

Ghandi more or less than 35/100 when he died

Question 31

Availability hueristic

Answer 31

mental shortcut that occurs when people make judgments about the probability of events on the basis of how easy it is to think of examples. The availability heuristic operates on the notion that, “if you can think of it, it must be important.”

Question 32

Substitution theory

Answer 32

System 1 is prone to substituting a simpler question for a difficult one.

Likelihood of Bank teller or feminist bank teller example, answer/ all feminist bank tellers are bank tellers

Question 33

Planning fallacy

Answer 33

the tendency to overestimate benefits and underestimate costs, impelling people to take on risky projects.

Question 34

What you see is all there is theory

Answer 34

This theory states that when the mind makes decisions, it deals primarily with Known Knowns, phenomena it has already observed. It rarely considers Known Unknowns, phenomena that it knows to be relevant but about which it has no information. Finally it appears oblivious to the possibility of Unknown Unknowns

Question 35

Prospect theory

Answer 35

Kahneman theory that we selfom act utilitarian because our biases force us into unreliable and illogical decisions.