ST2 - Judgement under Uncertainty

Question 1

What are interaction heuristics and biases?

Answer 1

a cognitive bias results from the usage of heuristics
(mental shortcuts: rule, strategy etc.)

Question 2

What are the 3 main heuristics mentioned in the article?

Answer 2

Representativeness, availability, and adjustment & anchoring

Question 3

What is representativeness?

Answer 3

Probabilities are evaluated by the degree to which A is representative of B, that is, by the degree to which A resembles B

Question 4

What is the availability heuristic?

Answer 4

people’s tendency to use information that come to mind quickly
and easily when making decisions about the future (Deciding who gets promotion, remembering that one of them failed
one exercise)

Question 5

What is the adjustment & anchoring heuristic?

Answer 5

where people start off with an initial idea and adjusts their beliefs based on this starting point (When judging the number of habitants in a neighbouring country we are likely to stick close to this amount of the comparing country)

Question 6

Why are rational choices not always possible?

Answer 6

• Lack of time
• Too much information