thinking and decision making

Question 1

what is thinking?

Answer 1

the process of modifying and producing new information
1. breaking it down into lesser parts (analysis)
2. brining different pieces of information together (synthesis)
3. relating information to categories
4. making conclusions and inferences

Question 2

what is decision making?

Answer 2

selection one of the possible beliefs or actions / choosing between alternatives

Question 3

what is the dual processing model?

Answer 3

a theory that states people use two systems when processing information and making decisions

Question 4

how is system 1?

Answer 4

intuitive:
1. fast
2. unconscious
3. automatic
4. based on previous experiences (schema)
5. useful for everyday decisions and survival
6. PRONE TO ERROR

Question 5

how is system 2?

Answer 5

rational:
1. slow
2. conscious
3. effortful
4. based on consequences
5. useful for complex decisions
6. more reliable

Question 6

how is system 1 used in your life?

Answer 6

running away from danger, understanding your native language, recognizing when someone is sad

Question 7

how is system 2 used in your life?

Answer 7

learning a new language, choosing a career, debating, complex math problems

Question 8

STUDY ON DUAL PROCESSING MODEL

Answer 8

Kahneman & Tversky 1974
aim: to see if people rely on intuitive thinking (s1) more than rational thinking (s2)
- 95 participants
- two hospitals (small/big)
- gender ratio 50/50
- which hospital had more days of 60% or higher
- 75% wrong, 56% 50/50
- relied on statistic presented instead of correct processing (larger samples adjust better to the media)
- system 1 is more common but more prone to errors