Nightmare Exam!! Flashcards
Garner (v.)
gather
Accord (n.)
an official agreement or treaty
Ex: the groups refused to sign the accord
Ratified (v.)
give consent
ex: ratify the treaty
Egregious (adj.)
outstandingly bad
Planning Fallacy
This is when people tend to underestimate the time a task, effort, or resources a project will take. Its about being over optimistic
Ex: completing a project by staying up all night
Hyperbolic Discounting
When people prioritize immediate rewards over long term better rewards.
Ex: Choosing 100 dollars now rather than 150 in one month.
Halo Effect/Horn Effect
Halo/horn effect analyzes the influence of first impressions. if you see something good about a person you have a overall positive impression, if you see something bad you see an overall bad impression.
Anchoring Bias
Relying heavily on the first piece of information given.
Ex: seeing a car as 20000 dollars, and then next week 10000 you are likely to buy and be anchored to it.
Survivorship Bias
Viewing only those who survived or succeeded in a process/event, while ignoring others.
Narrative Bias
People making sense of the world around them through stories made of arbitrary and small information.
Ex: saying a company is at its downfall because they had a decline in sales.
Actor-Observer Bias
When you attribute your own bad actions to external factors but others to their traits and characteristics.
Gambler’s Fallacy
When people believe past events can influence future outcomes.
Ex: flipping a coin 5 times and its heads, thinking the next will be tails
Fear of Missing Out
Being scared your being left out and getting a rush of emotion
Self-Serving Bias
People attribute their skills to “self-serve” themselves. They say a positive trait is attributed to their natural ability and negative is attributed to their environment at that time.
Tu Quoque
Claiming that someone’s argument must be false because its not consistent with their past.
Ex: Because you do weed you can’t talk on banning marijuana.