Week 10

Question 1

rational decision

Answer 1

ideally: u have to consider all the information available and assign values to all of the outcomes and select the best one.

Question 2

bounded willpower

Answer 2

we don’t always do what we know is best

Question 3

bounded self interest

Answer 3

we consider outcomes for others not just ousrelves

Question 4

bonded ethicality

Answer 4

we may not be aware of ways we violate our own ethics

Question 5

bounded awareness

Answer 5

we may fail to notice obvious info that is available

Question 6

heuristics

Answer 6

mental shortcuts

Question 7

system 1

Answer 7

thinking that is fast, intuitive, automatic, implicit, emotional, effortless

Question 8

system 2

Answer 8

thinking that is slow, deliberate, effortful, explicit, logical