Thinking fast and slow Flashcards

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0
Q

ego depletion

A

if you have to force yourself to do something, you are more likely to fail at the next task

glucose helps

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1
Q

Flow

A

A state of concentration so deep that the person loses sense of surroundings, self, and problems

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2
Q

associatively coherent

A

things that evoke memories or emotions

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3
Q

priming

A

words that are set to bring up other words to mind

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4
Q

Lady MacBeth effect

A

The thought of committing a crime causes people to buy cleaning products more frequently than other products

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5
Q

pastness

A

when you remember something but can’t quite know why it’s possesses this quality in which it has no mental file, yet you know you have seen it before

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6
Q

mere exposure effect

A

as things become more familiar our perception of such things becomes more positive

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7
Q

framing effect

A

how information is presented effects how we interpret it, we are easily biased

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8
Q

base rate neglect

A

we usually neglect base rates

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9
Q

statistical matching

A

earliest reading age equals grade point average, this is wrong

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10
Q

mental shotgun

A

it is impossible for system one to not do more than system to commands it to do

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11
Q

substitution

A

A heuristic question used as a replacement for a targeted trickier question, we answer an easier question

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12
Q

The affect heuristic

A

people let their likes and dislikes form their opinion of the world

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13
Q

we pay more attention to content. What should we pay more attention to?

A

reliability

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14
Q

what is the issue with small samples in regards to case studies

A

they pose the same issue

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15
Q

anchoring effect

A

when people are given a number and then asked to estimate, the estimate is usually rooted in the previous number

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16
Q

vividness effect

A

we are more likely to be cautious when a bad event is easily accessible in our mind

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17
Q

availability cascade

A

A self-sustaining chain of events which may start from media reports of a relatively minor event, and lead up to a large-scale government impact and public panic

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18
Q

affect heuristic

A

we are influenced by our opinions so much that we cannot create objective pro – con list

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19
Q

representativeness

A

we make a judgment on probability based on the association system one brings up

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20
Q

statistical base rates

A

these are usually underweighted

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21
Q

causal base rates

A

treated as information about the original case

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22
Q

The halo effect

A

inclines us to match our views of all the qualities of a person to our judgment of one attribute

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23
Q

I knew it all along effect

A

our propensity to forget our past surprise at what we now know

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24
Q

rejoinder

A

A sharp or witty reply

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25
Q

adversarial Collaborations

A

scholars who do not agree on each other’s science write a collaborative paper

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26
Q

expert intuition

A

The intuition gained in a particular field by an expert of the such

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27
Q

intuition is nothing more and nothing less than what?

A

Recognition

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28
Q

“Intuitions” are?

A

are most often unrecognizable triggers from a past experience

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29
Q

subjective confidence

why is this troublesome?

A

we are most confident when we cannot think of any competing scenarios

troublesome as certainty can only come from attempts to disprove

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30
Q

base-rate information

A

prior probabilities

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31
Q

Inside view

A

more optimistic, less realistic

32
Q

outside view

A

more realistic, less optimistic, that of statistics

33
Q

forecasting method

A

how to find the base rate

  1. identify reference class
  2. compare statistics to your projections
  3. adjust your prediction accordingly
34
Q

sanguine

A

optimistic or positive

35
Q

what gives us an illusion of control?

A

our neglect of the role of luck

36
Q

anove average effect

A

when asked to rate your relative skill at something you find difficult you will claim that you are under qualified at this task. However if you are moderately good at a task you will claim to be well above the average

37
Q

loss aversion ratio

A

people are only willing to accept a loss if the chances of gain are twice that of the loss

38
Q

indifference curve

A

hyperbola

all spots on the curve are equally desirable

vacation vs income

39
Q

the endowment effect

A

owning something appears to increase its value

system 1

occurs when owners view their goods as carriers for future value

40
Q

prospect theory

A

reference points exist

loss aversion has a large effect

41
Q

the poor think like traders, however their choices are based on what?

A

loss rather than gain

42
Q

negativity dominance

A

a cherry will do nothing for a bowl of cockroaches, but a cockroach will ruin a bowl of cherries

43
Q

altruistic punishment

A

punishing a stranger for treating another unfairly

lights up pleasure centers in the brain

44
Q

neuroeconomist

A

someone who combined brain science with economic theories

45
Q

who suffers more? people who lose, or people who failed to gain?

A

people who lose

46
Q

possibility effect

A

0-5%

causes highly unlikely outcomes to be weighted heavier than they deserve

47
Q

probability effect

A

95-100%

outcomes that are more probable are given less weight than their probability should employ

48
Q

the expectation effect

A

values are rated by their probabilities

poor psychology

49
Q

availability heuristic

A

experience based technique for problem solving

we are usually in confirmatory mode

50
Q

denominator neglect

A

if your attention is drawn to winners, you will less likely assess the losers

51
Q

choice from experience

A

usually underweight risks

never overweight risks

52
Q

choice from description

A

probability is usually overweighted

53
Q

narrow framing

A

a sequence of two simple decisions considered separately

humans are narrow framers

54
Q

broad framing

A

one comprehensive decision

equal or superior to narrow framing in all cases

55
Q

which is better? narrow or broad framing?

A

broad

56
Q

a risk policy that aggregates decision is analagous to which view?

A

outside view

57
Q

omission

A

to leave out something

58
Q

commission

A

an instruction or order, the act of fulfilling an order or instruction

59
Q

mental accounts

A

keeps things controllable and manageable for the finite mind

narrow framing, system 1

60
Q

which system does narrow framing take place in?

A

system 1

61
Q

the disposition bias

A

people prefer to sell winners rather than losers

62
Q

regret

A

that sinking feeling when you can easily imagine what you might have done instead

63
Q

risk of regret

A

much higher when an active choice is involved instead of a passive choice

64
Q

responsibility

A

the price of a decision is much higher if there is a responsibility involved

65
Q

poignancy

A

close couson to regret

if only he had stopped at his regular store

66
Q

valubility hypothesis

A

things arent valuable until evaluated against alike things

67
Q

experienced utility

A

how much pain or pleasure we have when we make a decision

68
Q

decision utility

A

wantability

nothing to do with experiences, simply rationality

69
Q

hedonimetet

A

imaginary thing that measures pain

70
Q

experiencing self

A

does it hurt now

71
Q

remembering self

A

how much did it hurt overall

72
Q

peak end rule

A

how things end is how we remember

73
Q

amnesic

A

forgetful

74
Q

u-index

A

time a person or population spends in an unpleasant state

75
Q

what is the greatest predictor or happiness?

A

how much time we spend with loved ones

76
Q

the focus effect

A

nothing in life is as important as it seems when you are thinking about it

77
Q

miswanting

A

we believe that a change in circumstances will significantly improve our sense of well being