Week 6 - High-effort decision making Flashcards
Estimation of likelihood (high-effort judgement processes)
based on experiences, vivid information
goodness/badness (high-effort judgement processes)
Anchoring/adjusting - taking one piece of information and adjusting info up or down but not enough
imagery
Conjunctive probability assessment (high effort judgment processes)
estimate whether two events occur simultaneously
Illusory correlation (high-effort judgment processes)
going outside with wet hair and thinking you will get sick
biases in judgment process
confirmation - confirmation bias
self-positivity - believing that I am correct
negativity - bad mood will point out flaws
mood
prior brand evaluations - reference point
consideration set
a group of brands that I come up with the make a choice (through internal and external search)
inept set
unacceptable
inert set
indifference
compensatory model
tradeoff
additive difference models (compensatory models)
brands compare by attribute (two at a time), Halloween costume model
multiattribute models (compensatory models)
processing by brand
non-compensatory models
deal-breaker
conjunctive models (non-compensatory model)
minimum cutoffs set for each attribute (weight on negative info)
disjunctive model (non-compensatory)
acceptable levels for attributes ((weight on positive info))
lexicographic model (non-compensatory)
attributes ordered by importance, i want to get a brand that does best on attributes most important to me
