Mind! Flashcards
Fundamental attribution error
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
Economist believe we should use _____to make decisions
Cost benefit analysis
Sunk costs spending
Throwing good money after bad. Better to cut losses.
Loss aversion theory
People typically avoid chance, even when odds are with them and risk would be beneficial
Law of large numbers
Small sample size causes outliers to be more important while large sample size causes a reduction to the mean
Dialectic
Approach not based on logic but on hold in conflicting viewpoints and contextual clues as more important.
Deductive reasoning
Hypothesis with evidence to verify such as scientific method
Inductive
Broad generalization based on specific evidence. More common and likely though probably conclusion only.
Affect hueristic
Where judgements and decisions are guided directly by feelings of liking or disliking
Law of least effort
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.
Ben Franklin effect
Those who do you favors are more likely to do another, or like you, than those you do favors for. Results from cognitive dissonance
System 1 (Kahneman)
Intuitive, automatic, with little to no effort
Has biases, cannot be turned off but it is typically very effective in protection and estimation.
System 2 (Kahneman)
Allocates attn to meaningful activities, complex computations, concentration and choice.
Overcomes impulses of system 1 but wears itself out at times.
Ego depletion
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
Rationality vs. intelligence
Intelligence tests do not take into account the rational will to engage which is different among groups.
Associative machine
The way the mind (system 1) makes assumptions and judgements without our implicit knowledge. Often resulting in choices we thought we made willingly.
Streisand effect
Attempting to destroy something out of hate or malice causes it to be preserved and disseminated.
judgmental heuristics
Quick mind decisions to save mental power. Often right, but open to manipulation
Just because rule
When we ask someone to do something and give them a reason, they are far more likely to do it.
The Contrast Principle
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
Fixed action patterns
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.
Contrast principle
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
Rule of reciprocation
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
Factor analysis
Down a group of questions to determine how many genuine questions with valid results can be ascertained
The principle of social proof
It states that one means we use to determine what is correct is to find out what other people think is correct.
Foot in the door technique
Tactic of starting with a small request in order to gain eventual compliance with related larger requests.
Consistency principle
The drive to look and be consistent, created to help humans maintain social acceptance
Halo effect
when one positive characteristic of a person dominates the way that person is viewed by others.
Hueristic Theory
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.
Anchoring theory
Thoughts and decisions are based on the environment at the moment, more than realized.
Ghandi more or less than 35/100 when he died
Availability hueristic
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.”
Substitution theory
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
Planning fallacy
the tendency to overestimate benefits and underestimate costs, impelling people to take on risky projects.
What you see is all there is theory
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
Prospect theory
Kahneman theory that we selfom act utilitarian because our biases force us into unreliable and illogical decisions.
