Cognitive Bias Student Q's 23-24

Which of these are an example of the "Optimism Bias"

• Expecting to get a 90% on a test but getting a 50%

• Expecting to get 30% on a test but getting 80%

• Craving fish tacos for dinner but getting pasta

• Wishing it was a monday

Which of these is an example of Recognition Bias

• Choosing to buy a more popular cereal brand because you are familiar with it instead of trying something new.

• Investing in familiar stocks because they are more "trust worthy."

• Buying a Louis Vuitton bag instead of Michael Kors.

• Continuously buying a meal that you know will taste good instead of trying something new.

Which decision-making cognitive system does affect heuristic use?

• System 0

• System 1

• System 2

• System 3

what is the endowment effect???

• Belief that your specific item is worth more than someone else

• Belief that you item is special

• Belief in one item holding more sentimental value

• All of the above

Affect heuristic is the tendency to judge the probability of a type of event by how easy it is

to think of examples or instance

• True

• False

Fill in the blank: Peak-end rule states that when you remember something you remember the most extreme ________.

• Minutes

• Plays

• Emotions

• Moments

How can the Peak and Rule Heuristic be beneficial to your memory?

• It allows you to remember every minute detail of a scene.

• You can remember only the things you can hear to a great amount.

• you can remember detail from a scene aligned with you emotional behavior making details stand out.

• It's helpful to you because you can remember all instances of what you hear no matter how much it stands out.

Endowment Effect values What Higher?

• Kim Jong Un

  Leader of North Korea

• Personal Objects

• Company Property

• Siblings Objects

What is an example of the similarity heuristic?

• choosing a book that has a familiar plot to a book you've already read.

• choosing a book because the cover attracts you.

• choosing a book because your friend has it.

• going to an amusement park with no shoes on.

What is Effort Bias?

• How much effort is put into something/ an object

• How the value of an object can influence the effort you put into it

• How effort influences the amount of money you make

• Not putting in enough effort