Week Two

Question 1

Cue

Answer 1

Information that people use as a signal to lead them to a decision

Question 2

Decision Tree

Answer 2

• Hierarchical model for decision making
• Strategy to help people make decisions
• Identifies relevant conditions that lead to consequences
• Identifies consequences or outcomes based on listed conditions

Question 3

Normative Models

Answer 3

• Established system
• Used to reach the optimal decision

Question 4

Computational Capacity

Answer 4

The maximum amount of computational power that is available to process information

Question 5

Prescriptive Models

Answer 5

• How people should make decisions
• Decision is optimal given the constraints of time and cognitive resources

Question 6

Descriptive Models

Answer 6

An account of how people actually make decisions

Question 7

Heuristic

Answer 7

A rule that people use to make decisions. These rules are systematic, quick to use, and easy to use.

Question 8

Bias

Answer 8

Statistical definition:
- A systematic distortion of a statistical result
- Statistical preference of one choice over another

Question 9

Representativeness Heuristic

Answer 9

An event A is judged more probable than an event B whenever A appears more representative than B.

Question 10

Fast and Frugal Heuristics

Answer 10

• Fast: reach a decision quickly
• Frugal: does not use a lot of computational power
• Heuristics: Rules to be systematically used to make decisions

Question 11

Fast and Frugal Approach

Answer 11

Assumptions:
- Heuristics evolved as a result of interactions with the environment
- Heuristics are adaptive
- Heuristics strike a balance between minimizing computational power and speed, and maximizing accuracy

Question 12

Recognition Heuristic

Answer 12

If one of two objects is recognized and the other is not, then infer that the recognized object has the higher value with respect to the criterion

Question 13

Dual-Process Theory

Answer 13

For higher level cognitive tasks:
- There are two types of processes
- There are two corresponding two systems
The goal: Identify the characteristics of each type of process

Question 14

Type I Process

Answer 14

• No working memory
• Autonomous

Question 15

Type II Process

Answer 15

• Working memory
• Not autonomous
• Construction of mental models
• Cognitive decoupling